Bank of America Issues Pessimistic Forecast for Victoria’s Secret & Co. (NYSE:VSCO) Stock Price

Victoria’s Secret & Co. (NYSE:VSCO) had its target price reduced by equities research analysts at Bank of America from $40.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Bank of America‘s price target suggests a potential downside of 3.37% from the stock’s current price.

Several other research firms have also recently weighed in on VSCO. Telsey Advisory Group decreased their price objective on shares of Victoria’s Secret & Co. from $50.00 to $40.00 and set a “market perform” rating for the company in a report on Thursday. UBS Group raised Victoria’s Secret & Co. from a “sell” rating to a “neutral” rating and boosted their price target for the company from $18.00 to $47.00 in a report on Tuesday, December 10th. BMO Capital Markets raised their target price on shares of Victoria’s Secret & Co. from $33.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Barclays raised Victoria’s Secret & Co. from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $51.00 to $53.00 in a report on Tuesday. Finally, TD Cowen lifted their price objective on shares of Victoria’s Secret & Co. from $35.00 to $45.00 and gave the company a “hold” rating 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 given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $42.36.

Victoria’s Secret & Co. Price Performance

Shares of NYSE VSCO opened at $36.22 on Thursday. Victoria’s Secret & Co. has a fifty-two week low of $15.12 and a fifty-two week high of $48.73. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.33 and a current ratio of 1.17. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 2.11 and a beta of 2.14. The company has a 50 day simple moving average of $40.65 and a two-hundred day simple moving average of $30.67.

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

Hedge Funds Weigh In On Victoria’s Secret & Co.

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

About Victoria’s Secret & Co.

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.