Bath & Body Works (NYSE:BBWI) Downgraded to Underweight Rating by Barclays

Bath & Body Works (NYSE:BBWI) was downgraded by research analysts at Barclays from an “equal weight” rating to an “underweight” rating in a research note issued on Friday,Briefing.com Automated Import reports. They presently have a $28.00 price target on the stock, down from their prior price target of $31.00. Barclays‘s target price would suggest a potential downside of 11.76% from the company’s previous close.

A number of other equities analysts have also commented on the stock. Bank of America cut their price objective on shares of Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. UBS Group cut their price objective on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Morgan Stanley dropped their target price on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Piper Sandler dropped their target price on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bath & Body Works presently has a consensus rating of “Moderate Buy” and an average target price of $42.44.

Bath & Body Works Stock Down 0.1 %

Shares of BBWI opened at $31.73 on Friday. The firm has a market cap of $6.95 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 0.99 and a beta of 1.79. The company’s fifty day moving average is $30.02 and its two-hundred day moving average is $37.08. Bath & Body Works has a fifty-two week low of $26.20 and a fifty-two week high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. As a group, equities research analysts anticipate that Bath & Body Works will post 3.18 earnings per share for the current year.

Insider Transactions at Bath & Body Works

In related news, CEO Gina Boswell purchased 6,000 shares of Bath & Body Works stock in a transaction dated Wednesday, October 9th. The stock was bought at an average cost of $29.64 per share, with a total value of $177,840.00. Following the purchase, the chief executive officer now owns 242,987 shares in the company, valued at approximately $7,202,134.68. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Bath & Body Works

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Community Trust NA acquired a new stake in Bath & Body Works during the second quarter valued at approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Bath & Body Works by 300.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after acquiring an additional 900 shares during the period. EntryPoint Capital LLC raised its holdings in shares of Bath & Body Works by 224.0% during the first quarter. EntryPoint Capital LLC now owns 1,471 shares of the company’s stock valued at $74,000 after acquiring an additional 1,017 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Bath & Body Works by 480.3% during the third quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock valued at $55,000 after acquiring an additional 1,436 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Bath & Body Works by 65.4% during the second quarter. GAMMA Investing LLC now owns 1,846 shares of the company’s stock valued at $72,000 after acquiring an additional 730 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

About Bath & Body Works

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. It sells its products under the Bath & Body Works, White Barn, and other brand names through retail stores and e-commerce sites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.