Bath & Body Works (NYSE:BBWI) Price Target Raised to $23.00 at Telsey Advisory Group

Bath & Body Works (NYSE:BBWI) had its price objective raised by research analysts at Telsey Advisory Group from $17.00 to $23.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm presently has a “market perform” rating on the stock. Telsey Advisory Group’s price target would suggest a potential downside of 1.37% from the company’s previous close.

Other research analysts also recently issued reports about the company. Citigroup downgraded Bath & Body Works from a “buy” rating to a “neutral” rating and lifted their price target for the company from $21.00 to $25.00 in a report on Tuesday, February 17th. Morgan Stanley reissued an “equal weight” rating and set a $18.00 target price (down from $43.00) on shares of Bath & Body Works in a research report on Friday, November 21st. Raymond James Financial reaffirmed a “market perform” rating on shares of Bath & Body Works in a research report on Wednesday, November 12th. Zacks Research raised Bath & Body Works from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, Jefferies Financial Group initiated coverage on shares of Bath & Body Works in a research report on Wednesday, January 14th. They issued a “hold” rating and a $24.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, Bath & Body Works presently has an average rating of “Hold” and an average price target of $23.71.

Bath & Body Works Stock Performance

NYSE BBWI opened at $23.32 on Friday. Bath & Body Works has a one year low of $14.27 and a one year high of $38.28. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 7.18, a price-to-earnings-growth ratio of 1.00 and a beta of 1.54. The company’s 50-day simple moving average is $22.07 and its two-hundred day simple moving average is $23.79.

Institutional Investors Weigh In On Bath & Body Works

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in shares of Bath & Body Works by 132.5% during the 4th quarter. AQR Capital Management LLC now owns 11,445,928 shares of the company’s stock valued at $229,834,000 after buying an additional 6,523,960 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Bath & Body Works by 11.5% during the second quarter. JPMorgan Chase & Co. now owns 7,080,106 shares of the company’s stock worth $212,120,000 after acquiring an additional 733,000 shares during the period. Alliancebernstein L.P. raised its position in Bath & Body Works by 2.2% during the third quarter. Alliancebernstein L.P. now owns 5,861,444 shares of the company’s stock valued at $150,991,000 after acquiring an additional 123,648 shares in the last quarter. Cooper Creek Partners Management LLC lifted its holdings in Bath & Body Works by 42.7% in the second quarter. Cooper Creek Partners Management LLC now owns 5,409,919 shares of the company’s stock valued at $162,081,000 after acquiring an additional 1,619,276 shares during the period. Finally, American Century Companies Inc. boosted its position in Bath & Body Works by 2,204.1% in the 3rd quarter. American Century Companies Inc. now owns 5,174,370 shares of the company’s stock worth $133,292,000 after purchasing an additional 4,949,796 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

About Bath & Body Works

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.