JPMorgan Chase & Co. Upgrades Victoria’s Secret & Co. (NYSE:VSCO) to Neutral

Victoria’s Secret & Co. (NYSE:VSCO) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage currently has a $45.00 target price on the stock, up from their previous target price of $29.00. JPMorgan Chase & Co.‘s target price indicates a potential downside of 3.50% from the company’s current price.

A number of other brokerages have also issued reports on VSCO. Wells Fargo & Company restated an “equal weight” rating and issued a $45.00 target price (up previously from $33.00) on shares of Victoria’s Secret & Co. in a research note on Monday. Jefferies Financial Group upped their price objective on 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. The Goldman Sachs Group lifted their target price on Victoria’s Secret & Co. from $17.00 to $19.00 and gave the stock a “sell” rating in a research report on Friday, August 30th. Barclays raised Victoria’s Secret & Co. from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $23.00 to $25.00 in a research report on Wednesday, September 18th. Finally, UBS Group lifted their price objective on shares of Victoria’s Secret & Co. from $13.00 to $18.00 and gave the stock a “sell” rating in a report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.73.

Victoria’s Secret & Co. Price Performance

Shares of NYSE VSCO opened at $46.63 on Monday. Victoria’s Secret & Co. has a fifty-two week low of $15.12 and a fifty-two week high of $48.70. The business has a 50 day moving average price of $33.17 and a two-hundred day moving average price of $25.12. 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 firm has a market cap of $3.66 billion, a PE ratio of 24.16 and a beta of 2.19.

Victoria’s Secret & Co. (NYSE:VSCO) last issued its quarterly earnings results on Thursday, December 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.12. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.59%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.86) earnings per share. Sell-side analysts expect that Victoria’s Secret & Co. will post 2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Castellan Group bought a new stake in Victoria’s Secret & Co. during the 3rd quarter valued at $6,218,000. Sanctuary Advisors LLC increased its holdings in shares of Victoria’s Secret & Co. by 3.3% during the third quarter. Sanctuary Advisors LLC now owns 51,139 shares of the company’s stock valued at $1,314,000 after purchasing an additional 1,617 shares during the period. Geode Capital Management LLC raised its stake in shares of Victoria’s Secret & Co. by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,794,221 shares of the company’s stock valued at $46,121,000 after purchasing an additional 24,967 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Victoria’s Secret & Co. in the third quarter worth about $768,000. Finally, XTX Topco Ltd bought a new stake in shares of Victoria’s Secret & Co. during the 3rd quarter worth about $412,000. 90.29% of the stock is owned by institutional investors and hedge funds.

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.