The Goldman Sachs Group Issues Pessimistic Forecast for Victoria’s Secret & Co. (NYSE:VSCO) Stock Price

Victoria’s Secret & Co. (NYSE:VSCO) had its target price reduced by equities research analysts at The Goldman Sachs Group from $35.00 to $19.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 11.85% from the stock’s current price.

Several other equities research analysts have also recently weighed in on VSCO. Barclays dropped their target price on Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating for the company in a report on Friday. Morgan Stanley dropped their price objective on Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday. Cowen reissued a “hold” rating on shares of Victoria’s Secret & Co. in a report on Friday. Bank of America dropped their target price on shares of Victoria’s Secret & Co. from $40.00 to $35.00 and set an “underperform” rating for the company in a report on Thursday, January 30th. Finally, Wells Fargo & Company dropped their price target on Victoria’s Secret & Co. from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.73.

Victoria’s Secret & Co. Price Performance

Shares of NYSE VSCO traded down $2.06 during trading hours on Monday, reaching $16.99. 4,454,944 shares of the stock traded hands, compared to its average volume of 2,629,958. The company’s 50-day simple moving average is $33.75 and its two-hundred day simple moving average is $32.56. The company has a market capitalization of $1.34 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 1.15 and a beta of 2.16. Victoria’s Secret & Co. has a 52-week low of $15.12 and a 52-week high of $48.73. The company has a quick ratio of 0.33, a current ratio of 1.17 and a debt-to-equity ratio of 3.12.

Victoria’s Secret & Co. (NYSE:VSCO) last issued its earnings results on Wednesday, March 5th. The company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.30. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. Equities research analysts forecast that Victoria’s Secret & Co. will post 2.37 EPS for the current year.

Hedge Funds Weigh In On Victoria’s Secret & Co.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Victoria’s Secret & Co. by 10.3% in the fourth quarter. GAMMA Investing LLC now owns 3,486 shares of the company’s stock worth $144,000 after purchasing an additional 326 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Victoria’s Secret & Co. by 1.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 41,989 shares of the company’s stock worth $1,079,000 after buying an additional 412 shares during the last quarter. Picton Mahoney Asset Management lifted its stake in Victoria’s Secret & Co. by 6.5% during the 4th quarter. Picton Mahoney Asset Management now owns 7,782 shares of the company’s stock valued at $322,000 after acquiring an additional 477 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of Victoria’s Secret & Co. by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,211 shares of the company’s stock valued at $340,000 after acquiring an additional 522 shares during the last quarter. Finally, Mariner LLC grew its stake in shares of Victoria’s Secret & Co. by 3.0% in the fourth quarter. Mariner LLC now owns 19,307 shares of the company’s stock worth $800,000 after acquiring an additional 569 shares during the period. 90.29% of the stock is owned by institutional investors.

About Victoria’s Secret & Co.

Victoria’s Secret & Co operates as a lingerie, clothing and beauty retailer. It offers bras, panties, lingerie, pajamas, sleep, sport and swim apparel, and beauty products. The company was founded in 1963 and is headquartered in Reynoldsburg, OH.