Victoria’s Secret & Co. (NYSE:VSCO) Stock Price Up 4% After Analyst Upgrade

Victoria’s Secret & Co. (NYSE:VSCO)’s share price was up 4% during 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 changed hands during mid-day 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 equities research analysts have also recently weighed in on the company. BMO Capital Markets increased their price objective on Victoria’s Secret & Co. from $29.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday. The Goldman Sachs Group raised their target price on Victoria’s Secret & Co. from $17.00 to $19.00 and gave the stock a “sell” rating in a report on Friday, August 30th. Bank of America lifted their target price on Victoria’s Secret & Co. from $18.00 to $21.00 and gave the company an “underperform” rating in a research report on Friday, August 30th. Morgan Stanley boosted their price target on Victoria’s Secret & Co. from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Finally, Barclays upgraded Victoria’s Secret & Co. from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $23.00 to $25.00 in a research note on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Victoria’s Secret & Co. presently has a consensus rating of “Hold” and an average price target of $24.30.

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

Hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its stake in shares of Victoria’s Secret & Co. by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,203 shares of the company’s stock valued at $297,000 after buying an additional 628 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of Victoria’s Secret & Co. by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 37,538 shares of the company’s stock valued at $663,000 after purchasing an additional 715 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Victoria’s Secret & Co. by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 39,400 shares of the company’s stock worth $696,000 after purchasing an additional 1,000 shares during the period. Texas Permanent School Fund Corp increased its position in shares of Victoria’s Secret & Co. by 1.8% in the first quarter. Texas Permanent School Fund Corp now owns 67,770 shares of the company’s stock worth $1,313,000 after acquiring an additional 1,205 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Victoria’s Secret & Co. by 8.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,615 shares of the company’s stock valued at $294,000 after purchasing an additional 1,280 shares in the last quarter. 90.29% of the stock is owned by hedge funds and other institutional investors.

Victoria’s Secret & Co. Stock Performance

The company has a market capitalization of $2.25 billion, a P/E ratio of 16.16 and a beta of 2.14. The stock’s 50-day moving average price is $24.37 and its 200-day moving average price is $20.70. The company has a current ratio of 1.00, a quick ratio of 0.31 and a debt-to-equity ratio of 2.27.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its earnings results on Wednesday, August 28th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. Victoria’s Secret & Co. had a return on equity of 44.06% and a net margin of 2.25%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. As a group, equities analysts expect that Victoria’s Secret & Co. will post 1.98 EPS for the current 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.