Victoria’s Secret & Co. (NYSE:VSCO) Stock Price Down 9.9% Following Analyst Downgrade

Victoria’s Secret & Co. (NYSE:VSCO) fell 9.9% during mid-day trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $35.00 to $19.00. The Goldman Sachs Group currently has a sell rating on the stock. Victoria’s Secret & Co. traded as low as $17.13 and last traded at $17.17. 1,566,651 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 2,555,637 shares. The stock had previously closed at $19.05.

Several other equities research analysts have also issued reports on VSCO. UBS Group lowered their price target on shares of Victoria’s Secret & Co. from $47.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Bank of America lowered their target price on Victoria’s Secret & Co. from $40.00 to $35.00 and set an “underperform” rating on the stock in a research report on Thursday, January 30th. BMO Capital Markets reduced their price target on Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Barclays lowered their price target on Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. cut their price objective on Victoria’s Secret & Co. from $43.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Victoria’s Secret & Co. has a consensus rating of “Hold” and an average price target of $31.73.

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

A number of large investors have recently added to or reduced their stakes in VSCO. Wakefield Asset Management LLLP acquired a new position in shares of Victoria’s Secret & Co. in the fourth quarter valued at $991,000. Forest Avenue Capital Management LP bought a new stake in shares of Victoria’s Secret & Co. during the 3rd quarter worth about $40,861,000. FengHe Fund Management Pte. Ltd. acquired a new position in Victoria’s Secret & Co. in the 4th quarter valued at about $2,435,000. Oliver Luxxe Assets LLC bought a new position in Victoria’s Secret & Co. in the 4th quarter valued at about $1,963,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Victoria’s Secret & Co. by 31,597.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 91,290 shares of the company’s stock worth $3,690,000 after acquiring an additional 91,002 shares during the last quarter. Institutional investors own 90.29% of the company’s stock.

Victoria’s Secret & Co. Price Performance

The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 8.70, a P/E/G ratio of 1.15 and a beta of 2.16. The company’s 50-day simple moving average is $33.25 and its 200-day simple moving average is $32.51. 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. (NYSE:VSCO) last released its quarterly earnings results on Wednesday, March 5th. The company reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.30. Victoria’s Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Research analysts forecast that Victoria’s Secret & Co. will post 2.37 earnings per share for the current fiscal year.

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.