Morgan Stanley Has Lowered Expectations for Victoria’s Secret & Co. (NYSE:VSCO) Stock Price

Victoria’s Secret & Co. (NYSE:VSCO) had its price target reduced by investment analysts at Morgan Stanley from $38.00 to $23.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 20.55% from the stock’s current price.

Several other research analysts also recently issued reports on VSCO. Telsey Advisory Group lowered their price target on shares of Victoria’s Secret & Co. from $40.00 to $24.00 and set a “market perform” rating for the company in a report on Thursday. UBS Group lowered their price target on shares of Victoria’s Secret & Co. from $47.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. TD Cowen upped their price target on shares of Victoria’s Secret & Co. from $35.00 to $45.00 and gave the stock a “hold” rating in a report on Monday, December 9th. JPMorgan Chase & Co. lowered their price target on shares of Victoria’s Secret & Co. from $43.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Jefferies Financial Group upped their price target on shares of Victoria’s Secret & Co. from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $33.18.

Victoria’s Secret & Co. Stock Down 6.4 %

NYSE VSCO opened at $19.08 on Friday. The business has a fifty day moving average price of $33.75 and a two-hundred day moving average price of $32.50. 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 fifty-two week low of $15.12 and a fifty-two week high of $48.73. The stock has a market capitalization of $1.50 billion, a PE ratio of 9.89, a PEG ratio of 1.15 and a beta of 2.16.

Victoria’s Secret & Co. (NYSE:VSCO) last released its 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 firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Equities analysts expect that Victoria’s Secret & Co. will post 2.37 earnings per share for the current fiscal year.

Institutional Trading of Victoria’s Secret & Co.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Forest Avenue Capital Management LP acquired a new stake in Victoria’s Secret & Co. in the third quarter valued at $40,861,000. Wakefield Asset Management LLLP acquired a new stake in Victoria’s Secret & Co. during the 4th quarter worth about $991,000. FengHe Fund Management Pte. Ltd. acquired a new stake in Victoria’s Secret & Co. during the 4th quarter worth about $2,435,000. Oliver Luxxe Assets LLC acquired a new stake in Victoria’s Secret & Co. during the 4th quarter worth about $1,963,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Victoria’s Secret & Co. by 31,597.9% during the 4th 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 period. 90.29% of the stock is currently owned by institutional investors and hedge funds.

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.