Morgan Stanley Downgrades Victoria’s Secret & Co. (NYSE:VSCO) to Underweight

Morgan Stanley cut shares of Victoria’s Secret & Co. (NYSE:VSCO) from an equal weight rating to an underweight rating in a research report released on Monday morning, MarketBeat.com reports. They currently have $15.00 price target on the stock, down from their prior price target of $19.00.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company decreased their price target on shares of Victoria’s Secret & Co. from $32.00 to $25.00 and set an overweight rating for the company in a research report on Thursday, March 7th. JPMorgan Chase & Co. reaffirmed an underweight rating and set a $15.00 price target (down from $22.00) on shares of Victoria’s Secret & Co. in a research report on Thursday, March 7th. The Goldman Sachs Group assumed coverage on shares of Victoria’s Secret & Co. in a research report on Thursday, April 25th. They set a sell rating and a $14.00 price target for the company. Bank of America reaffirmed an underperform rating and set a $15.00 price target (down from $34.00) on shares of Victoria’s Secret & Co. in a research report on Friday, March 8th. Finally, Telsey Advisory Group decreased their price target on shares of Victoria’s Secret & Co. from $29.00 to $20.00 and set a market perform rating for the company in a research report on Thursday, March 7th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Victoria’s Secret & Co. currently has an average rating of Hold and a consensus price target of $20.36.

Victoria’s Secret & Co. Stock Up 2.5 %

Shares of NYSE VSCO opened at $17.99 on Monday. Victoria’s Secret & Co. has a 52-week low of $13.62 and a 52-week high of $30.80. The firm has a fifty day moving average of $19.79 and a 200-day moving average of $22.70. The stock has a market capitalization of $1.40 billion, a PE ratio of 13.23, a P/E/G ratio of 1.11 and a beta of 2.05. The company has a quick ratio of 0.34, a current ratio of 0.95 and a debt-to-equity ratio of 2.56.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its quarterly earnings data on Wednesday, March 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.12. Victoria’s Secret & Co. had a net margin of 1.77% and a return on equity of 56.40%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.09 billion. On average, analysts anticipate that Victoria’s Secret & Co. will post 1.67 EPS for the current year.

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

Institutional investors have recently modified their holdings of the stock. Kettle Hill Capital Management LLC bought a new position in Victoria’s Secret & Co. during the 3rd quarter worth approximately $18,645,000. Norges Bank bought a new stake in shares of Victoria’s Secret & Co. in the 4th quarter worth approximately $8,986,000. UBS Group AG lifted its holdings in shares of Victoria’s Secret & Co. by 11.0% in the 3rd quarter. UBS Group AG now owns 3,323,016 shares of the company’s stock worth $55,428,000 after purchasing an additional 328,860 shares during the last quarter. Newport Trust Company LLC bought a new stake in shares of Victoria’s Secret & Co. in the 3rd quarter worth approximately $3,344,000. Finally, Fred Alger Management LLC lifted its holdings in shares of Victoria’s Secret & Co. by 192.2% in the 3rd quarter. Fred Alger Management LLC now owns 287,239 shares of the company’s stock worth $4,791,000 after purchasing an additional 188,921 shares during the last quarter. Institutional investors and hedge funds 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.