Victoria’s Secret & Co. (NYSE:VSCO) Given New $40.00 Price Target at Morgan Stanley

Victoria’s Secret & Co. (NYSE:VSCO) had its price objective dropped by investment analysts at Morgan Stanley from $44.00 to $40.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 4.31% from the stock’s current price.

VSCO has been the topic of several other research reports. TD Cowen raised their price objective on Victoria’s Secret & Co. from $35.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. UBS Group upgraded shares of Victoria’s Secret & Co. from a “sell” rating to a “neutral” rating and raised their target price for the stock from $18.00 to $47.00 in a research note on Tuesday, December 10th. JPMorgan Chase & Co. upgraded shares of Victoria’s Secret & Co. from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $29.00 to $45.00 in a research report on Monday, December 9th. Jefferies Financial Group lifted their target price on shares of Victoria’s Secret & Co. from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $40.00 price target on shares of Victoria’s Secret & Co. in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Victoria’s Secret & Co. presently has an average rating of “Hold” and an average price target of $37.55.

Victoria’s Secret & Co. Stock Performance

Victoria’s Secret & Co. stock traded up $1.25 during midday trading on Tuesday, reaching $38.35. 349,551 shares of the company traded hands, compared to its average volume of 1,625,375. 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 12 month low of $15.12 and a 12 month high of $48.73. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 2.19 and a beta of 2.14. The business has a 50 day moving average of $40.40 and a two-hundred day moving average of $29.63.

Victoria’s Secret & Co. (NYSE:VSCO) last released its quarterly earnings results on Thursday, December 5th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.12. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.29 billion. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. The company’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. As a group, research analysts predict that Victoria’s Secret & Co. will post 2.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtus Fund Advisers LLC bought a new stake in shares of Victoria’s Secret & Co. in the 3rd quarter valued at approximately $27,000. Blue Trust Inc. raised its holdings in Victoria’s Secret & Co. by 741.4% during the 3rd quarter. Blue Trust Inc. now owns 1,708 shares of the company’s stock valued at $44,000 after buying an additional 1,505 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Victoria’s Secret & Co. in the second quarter worth $50,000. Quarry LP boosted its stake in Victoria’s Secret & Co. by 126.6% during the second quarter. Quarry LP now owns 3,157 shares of the company’s stock worth $56,000 after buying an additional 1,764 shares during the period. Finally, GAMMA Investing LLC increased its position in Victoria’s Secret & Co. by 109.5% during the third quarter. GAMMA Investing LLC now owns 3,160 shares of the company’s stock valued at $81,000 after acquiring an additional 1,652 shares during the last quarter. Hedge funds and other 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 bras, panties, lingerie, casual sleepwear, and athleisure and swim, as well as fragrances and body care; and loungewear, knit tops, activewear, and accessories and beauty under the Victoria's Secret, PINK, and Adore Me brands.