The Goldman Sachs Group Initiates Coverage on Victoria’s Secret & Co. (NYSE:VSCO)

Equities researchers at The Goldman Sachs Group initiated coverage on shares of Victoria’s Secret & Co. (NYSE:VSCO) in a report issued on Thursday, Marketbeat reports. The firm set a “sell” rating and a $14.00 price target on the stock. The Goldman Sachs Group’s price objective points to a potential downside of 19.68% from the company’s current price.

A number of other brokerages have also recently weighed in on VSCO. Telsey Advisory Group decreased their price objective on Victoria’s Secret & Co. from $29.00 to $20.00 and set a “market perform” rating for the company in a research note on Thursday, March 7th. Wells Fargo & Company dropped their price target on Victoria’s Secret & Co. from $32.00 to $25.00 and set an “overweight” rating on the stock in a research note on Thursday, March 7th. Bank of America reiterated an “underperform” rating and issued a $15.00 target price (down previously from $34.00) on shares of Victoria’s Secret & Co. in a research report on Friday, March 8th. BMO Capital Markets decreased their price objective on shares of Victoria’s Secret & Co. from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $15.00 price objective (down previously from $22.00) on shares of Victoria’s Secret & Co. in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.27.

Victoria’s Secret & Co. Trading Up 2.6 %

NYSE VSCO opened at $17.43 on Thursday. Victoria’s Secret & Co. has a one year low of $13.62 and a one year high of $31.39. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.34 and a current ratio of 0.95. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.12 and a beta of 2.07. The company’s 50-day simple moving average is $20.93 and its two-hundred day simple moving average is $22.56.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board acquired a new stake in shares of Victoria’s Secret & Co. during the 1st quarter valued at about $300,000. Quadrature Capital Ltd purchased a new position in Victoria’s Secret & Co. during the fourth quarter worth approximately $372,000. PNC Financial Services Group Inc. grew its holdings in Victoria’s Secret & Co. by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,203 shares of the company’s stock valued at $297,000 after purchasing an additional 628 shares during the period. Readystate Asset Management LP increased its position in shares of Victoria’s Secret & Co. by 14.9% in the fourth quarter. Readystate Asset Management LP now owns 103,726 shares of the company’s stock valued at $2,753,000 after buying an additional 13,436 shares in the last quarter. Finally, Claret Asset Management Corp purchased a new stake in shares of Victoria’s Secret & Co. in the fourth quarter valued at approximately $226,000. Hedge funds and other institutional investors 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.