JPMorgan Chase & Co. Has Lowered Expectations for Bath & Body Works (NYSE:BBWI) Stock Price

Bath & Body Works (NYSE:BBWI) had its target price dropped by analysts at JPMorgan Chase & Co. from $47.00 to $41.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 42.36% from the company’s previous close.

Several other research firms also recently weighed in on BBWI. Citigroup cut their price objective on Bath & Body Works from $48.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Wells Fargo & Company upgraded shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $42.00 to $48.00 in a research report on Friday, January 10th. Raymond James reiterated an “outperform” rating and set a $46.00 price target (up previously from $42.00) on shares of Bath & Body Works in a report on Tuesday, February 25th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $43.00 target price on shares of Bath & Body Works in a research report on Thursday, February 27th. Finally, Barclays decreased their price target on Bath & Body Works from $43.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Bath & Body Works presently has an average rating of “Moderate Buy” and an average price target of $43.69.

Bath & Body Works Price Performance

BBWI stock traded up $2.16 during midday trading on Monday, reaching $28.80. The company had a trading volume of 6,318,400 shares, compared to its average volume of 4,686,424. Bath & Body Works has a 1-year low of $24.96 and a 1-year high of $52.99. The stock has a 50 day moving average price of $32.99 and a 200-day moving average price of $34.00. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 7.02, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.05. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. As a group, research analysts anticipate that Bath & Body Works will post 3.3 earnings per share for the current year.

Bath & Body Works announced that its Board of Directors has approved a share repurchase program on Thursday, February 27th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Golden State Wealth Management LLC bought a new position in Bath & Body Works during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. lifted its position in shares of Bath & Body Works by 99.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock valued at $26,000 after purchasing an additional 329 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Bath & Body Works by 58.8% during the fourth quarter. UMB Bank n.a. now owns 905 shares of the company’s stock valued at $35,000 after purchasing an additional 335 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Bath & Body Works by 81.9% during the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after purchasing an additional 431 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Bath & Body Works in the 3rd quarter worth about $39,000. Institutional investors own 95.14% of the company’s stock.

About Bath & Body Works

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.