Bank of America Cuts Victoria’s Secret & Co. (NYSE:VSCO) Price Target to $35.00

Victoria’s Secret & Co. (NYSE:VSCO) had its price target cut by Bank of America from $40.00 to $35.00 in a research report released on Thursday,Benzinga reports. They currently have an underperform rating on the stock.

Several other research analysts also recently weighed in on the company. Barclays upgraded Victoria’s Secret & Co. from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $51.00 to $53.00 in a research note on Tuesday. Morgan Stanley dropped their target price on shares of Victoria’s Secret & Co. from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. The Goldman Sachs Group cut their target price on shares of Victoria’s Secret & Co. from $40.00 to $35.00 and set a “sell” rating for the company in a research note on Thursday. UBS Group upgraded shares of Victoria’s Secret & Co. from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $18.00 to $47.00 in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. upgraded Victoria’s Secret & Co. from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $29.00 to $45.00 in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.36.

Victoria’s Secret & Co. Price Performance

Shares of NYSE:VSCO opened at $36.84 on Thursday. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.17 and a quick ratio of 0.33. Victoria’s Secret & Co. has a 1-year low of $15.12 and a 1-year high of $48.73. The firm’s 50 day simple moving average is $40.67 and its two-hundred day simple moving average is $30.54. The company has a market capitalization of $2.90 billion, a P/E ratio of 19.09, a P/E/G ratio of 2.11 and a beta of 2.14.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its quarterly earnings results on Thursday, December 5th. The company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.12. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Victoria’s Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned ($0.86) earnings per share. Research analysts expect that Victoria’s Secret & Co. will post 2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Victoria’s Secret & Co.

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Victoria’s Secret & Co. by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 917,017 shares of the company’s stock worth $16,206,000 after acquiring an additional 109,013 shares during the last quarter. Sei Investments Co. boosted its position in shares of Victoria’s Secret & Co. by 1.9% during the second quarter. Sei Investments Co. now owns 175,553 shares of the company’s stock valued at $3,102,000 after buying an additional 3,253 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Victoria’s Secret & Co. by 234.9% during the second quarter. The Manufacturers Life Insurance Company now owns 41,577 shares of the company’s stock valued at $735,000 after buying an additional 29,161 shares during the last quarter. Algert Global LLC raised its holdings in shares of Victoria’s Secret & Co. by 107.6% in the second quarter. Algert Global LLC now owns 97,321 shares of the company’s stock worth $1,720,000 after buying an additional 50,451 shares during the period. Finally, Quarry LP lifted its stake in shares of Victoria’s Secret & Co. by 126.6% during the 2nd quarter. Quarry LP now owns 3,157 shares of the company’s stock worth $56,000 after acquiring an additional 1,764 shares during the last quarter. 90.29% of the stock is owned by institutional investors.

Victoria’s Secret & Co. Company Profile

Victoria’s Secret & Co operates as a lingerie, clothing and beauty retailer. It offers bras, panties, lingerie, pajamas, sleep, sport and swim apparel, and beauty products. The company was founded in 1963 and is headquartered in Reynoldsburg, OH.