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

Victoria’s Secret & Co. (NYSE:VSCO) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Monday,Benzinga reports. The firm presently has a $45.00 price objective on the stock, up from their previous price objective of $29.00. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 6.29% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. TD Cowen lifted their target price on shares of Victoria’s Secret & Co. from $20.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, August 30th. UBS Group upped their target price on shares of Victoria’s Secret & Co. from $13.00 to $18.00 and gave the stock a “sell” rating in a research report on Thursday. Bank of America raised their price target 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. The Goldman Sachs Group lifted their price target on Victoria’s Secret & Co. from $17.00 to $19.00 and gave the stock a “sell” rating in a research note on Friday, August 30th. Finally, BMO Capital Markets increased their price objective on Victoria’s Secret & Co. from $33.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Victoria’s Secret & Co. presently has an average rating of “Hold” and a consensus target price of $32.36.

Victoria’s Secret & Co. Trading Up 11.6 %

Victoria’s Secret & Co. stock opened at $48.02 on Monday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.31 and a current ratio of 1.00. Victoria’s Secret & Co. has a fifty-two week low of $15.12 and a fifty-two week high of $48.70. The stock has a market cap of $3.77 billion, a P/E ratio of 24.88 and a beta of 2.19. The firm’s fifty day moving average price is $32.31 and its 200-day moving average price is $24.75.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its position in Victoria’s Secret & Co. by 1.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 41,989 shares of the company’s stock valued at $1,079,000 after buying an additional 412 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Victoria’s Secret & Co. by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 37,538 shares of the company’s stock valued at $663,000 after acquiring an additional 715 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Victoria’s Secret & Co. by 13.6% during the third quarter. Farther Finance Advisors LLC now owns 6,955 shares of the company’s stock worth $179,000 after purchasing an additional 835 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of 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 valued at $696,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Virtus Fund Advisers LLC purchased a new stake in shares of Victoria’s Secret & Co. in the 3rd quarter worth about $27,000. 90.29% of the stock is owned by hedge funds and other institutional investors.

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.