Victoria’s Secret & Co. (NYSE:VSCO) Price Target Cut to $17.00 by Analysts at Morgan Stanley

Victoria’s Secret & Co. (NYSE:VSCO) had its price target reduced by Morgan Stanley from $19.00 to $17.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms have also recently issued reports on VSCO. BMO Capital Markets reduced their target price on Victoria’s Secret & Co. from $25.00 to $23.00 and set an outperform rating on the stock in a research note on Thursday. Telsey Advisory Group restated a market perform rating and issued a $21.00 price objective on shares of Victoria’s Secret & Co. in a report on Thursday. Wells Fargo & Company cut shares of Victoria’s Secret & Co. from an overweight rating to an equal weight rating and dropped their target price for the stock from $34.00 to $18.00 in a research report on Thursday. Jefferies Financial Group reduced their price target on shares of Victoria’s Secret & Co. from $50.00 to $39.00 in a research report on Tuesday, May 9th. Finally, TheStreet lowered shares of Victoria’s Secret & Co. from a c- rating to a d+ rating in a report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Victoria’s Secret & Co. currently has an average rating of Hold and an average target price of $30.00.

Victoria’s Secret & Co. Trading Up 3.3 %

Shares of VSCO opened at $19.81 on Friday. The firm has a fifty day simple moving average of $19.33 and a two-hundred day simple moving average of $25.81. Victoria’s Secret & Co. has a twelve month low of $16.78 and a twelve month high of $48.16. The stock has a market capitalization of $1.53 billion, a P/E ratio of 6.13, a PEG ratio of 0.76 and a beta of 1.86. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 4.43.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its earnings results on Thursday, August 31st. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Victoria’s Secret & Co. had a return on equity of 112.91% and a net margin of 4.28%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, research analysts anticipate that Victoria’s Secret & Co. will post 2.44 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VSCO. Parkside Financial Bank & Trust boosted its holdings in Victoria’s Secret & Co. by 774.0% in the first quarter. Parkside Financial Bank & Trust now owns 638 shares of the company’s stock worth $33,000 after acquiring an additional 565 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Victoria’s Secret & Co. by 85.3% in the 1st quarter. Captrust Financial Advisors now owns 1,232 shares of the company’s stock worth $63,000 after purchasing an additional 567 shares during the last quarter. Quarry LP bought a new position in Victoria’s Secret & Co. in the 1st quarter worth about $46,000. III Capital Management grew its position in Victoria’s Secret & Co. by 25.0% during the 4th quarter. III Capital Management now owns 1,858 shares of the company’s stock valued at $66,000 after purchasing an additional 372 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Victoria’s Secret & Co. during the 2nd quarter valued at about $40,000. Institutional investors own 90.29% of the company’s stock.

About Victoria’s Secret & Co.

Victoria's Secret & Co operates as a specialty retailer of women's intimate, and other apparel and beauty products worldwide. It offers intimate apparel, bras, panties, lingerie, sleepwear, loungewear, athletic attire, swimwear, and sport and swim products, as well as beauty products, including fine fragrance, mists, and PINK Beauty products and accessories under the Victoria's Secret, PINK, Victoria's Secret Beauty, and Adore Me brands.