Victoria’s Secret & Co. (NYSE:VSCO) Trading Up 4% Following Analyst Upgrade

Victoria’s Secret & Co. (NYSE:VSCO)’s stock price rose 4% during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $30.00 to $33.00. Wells Fargo & Company currently has an overweight rating on the stock. Victoria’s Secret & Co. traded as high as $28.73 and last traded at $28.58. Approximately 815,985 shares traded hands during trading, a decline of 71% from the average daily volume of 2,798,643 shares. The stock had previously closed at $27.48.

Several other research firms also recently commented on VSCO. Barclays upgraded shares of Victoria’s Secret & Co. from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $23.00 to $25.00 in a research note on Wednesday, September 18th. The Goldman Sachs Group raised their price objective on shares of Victoria’s Secret & Co. from $17.00 to $19.00 and gave the stock a “sell” rating in a report on Friday, August 30th. Telsey Advisory Group restated a “market perform” rating and set a $27.00 target price on shares of Victoria’s Secret & Co. in a research report on Thursday. Morgan Stanley upped their price objective on shares of Victoria’s Secret & Co. from $20.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Finally, Bank of America increased their target price on Victoria’s Secret & Co. from $18.00 to $21.00 and gave the company an “underperform” rating in a research note on Friday, August 30th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Victoria’s Secret & Co. currently has a consensus rating of “Hold” and an average target price of $24.30.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VSCO. Blue Trust Inc. lifted its holdings in shares of Victoria’s Secret & Co. by 741.4% during the third quarter. Blue Trust Inc. now owns 1,708 shares of the company’s stock valued at $44,000 after purchasing an additional 1,505 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Victoria’s Secret & Co. during the 2nd quarter valued at about $50,000. Quarry LP grew its stake in Victoria’s Secret & Co. by 126.6% in the 2nd quarter. Quarry LP now owns 3,157 shares of the company’s stock worth $56,000 after acquiring an additional 1,764 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Victoria’s Secret & Co. by 109.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,160 shares of the company’s stock worth $81,000 after purchasing an additional 1,652 shares during the period. Finally, Carolina Wealth Advisors LLC purchased a new position in shares of Victoria’s Secret & Co. in the third quarter worth $92,000. Institutional investors own 90.29% of the company’s stock.

Victoria’s Secret & Co. Price Performance

The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 16.16 and a beta of 2.14. The company has a quick ratio of 0.31, a current ratio of 1.00 and a debt-to-equity ratio of 2.27. The stock’s 50 day moving average price is $24.37 and its two-hundred day moving average price is $20.70.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its earnings results on Wednesday, August 28th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Victoria’s Secret & Co. had a net margin of 2.25% and a return on equity of 44.06%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. Equities research analysts forecast that Victoria’s Secret & Co. will post 1.98 EPS for the current fiscal year.

Victoria’s Secret & Co. Company Profile

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.