Bath & Body Works reported better-than-expected Q3 results
Bath & Body Works Inc (NYSE:BBWI) stock is up 17.7% to trade at $36.14 at last glance — their highest level since July — after the retailer announced better-than-expected earnings and revenue for the third quarter. The company also raised its full-year forecast amid strong demand for its candles and fragrances during the holiday season.
Shares are on track for their biggest single-day percentage gain on record, their third daily win in the past four sessions, and first close above the 40-day moving average since early June. Over the past year, the security added 22.5%.
The brokerage bunch is split toward BBWI, with nine firms calling it a tepid “hold” or worse, while nine say “buy” or better. This means Bath & Body Works stock could still benefit from a round of upgrades.
Options traders are already chiming in on the results, with 9,553 calls and 2,275 puts traded so far, which is 11 times the volume typically seen at this point. The most active contracts are the weekly 12/6 35- and 36-strike calls, where new positions are currently being bought to open.