Bath & Body Works (NYSE:BBWI) Upgraded to “Neutral” by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Bath & Body Works (NYSE:BBWIFree Report) from an underweight rating to a neutral rating in a research report released on Friday, MarketBeat.com reports. They currently have $53.00 target price on the stock, up from their previous target price of $40.00.

Several other research firms have also recently issued reports on BBWI. UBS Group increased their price target on Bath & Body Works from $46.00 to $52.00 and gave the stock a neutral rating in a research note on Monday, March 4th. TD Cowen lifted their target price on Bath & Body Works from $35.00 to $55.00 and gave the stock an outperform rating in a report on Friday, March 1st. Evercore ISI increased their target price on shares of Bath & Body Works from $30.00 to $45.00 and gave the company an in-line rating in a research note on Friday, March 1st. The Goldman Sachs Group lifted their price target on shares of Bath & Body Works from $49.00 to $56.00 and gave the stock a buy rating in a research report on Monday, March 4th. Finally, BMO Capital Markets increased their price objective on Bath & Body Works from $48.00 to $50.00 and gave the company an outperform rating in a research report on Friday, March 1st. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $48.47.

View Our Latest Analysis on BBWI

Bath & Body Works Stock Performance

Shares of NYSE BBWI traded up $1.21 during midday trading on Friday, hitting $50.16. The company’s stock had a trading volume of 1,963,506 shares, compared to its average volume of 2,470,455. Bath & Body Works has a 1-year low of $27.30 and a 1-year high of $50.45. The firm’s fifty day moving average price is $46.59 and its 200-day moving average price is $42.31. The firm has a market cap of $11.22 billion, a P/E ratio of 13.03, a P/E/G ratio of 1.59 and a beta of 1.89.

Bath & Body Works (NYSE:BBWIGet Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.21. Bath & Body Works had a negative return on equity of 37.01% and a net margin of 11.82%. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the firm earned $1.86 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, research analysts predict that Bath & Body Works will post 3.31 earnings per share for the current fiscal year.

Insider Activity at Bath & Body Works

In other news, insider Thomas E. Mazurek sold 4,285 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $48.89, for a total transaction of $209,493.65. Following the transaction, the insider now owns 45,992 shares in the company, valued at approximately $2,248,548.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Bath & Body Works

A number of hedge funds have recently bought and sold shares of the company. Front Row Advisors LLC acquired a new stake in shares of Bath & Body Works during the 3rd quarter worth approximately $25,000. Trust Co. of Vermont bought a new position in shares of Bath & Body Works during the 3rd quarter worth about $27,000. Denali Advisors LLC acquired a new stake in shares of Bath & Body Works during the 4th quarter valued at about $27,000. GAMMA Investing LLC bought a new stake in Bath & Body Works in the fourth quarter valued at about $27,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Bath & Body Works during the fourth quarter worth about $35,000. 95.14% of the stock is currently owned by institutional investors.

Bath & Body Works Company Profile

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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.

Further Reading

Analyst Recommendations for Bath & Body Works (NYSE:BBWI)

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