Barclays Issues Positive Forecast for Victory Capital (NASDAQ:VCTR) Stock Price

Key Points

• Barclays raised its Victory Capital price target from $121 to $126, implying 7.87% potential upside, while maintaining an “equal weight” rating.
• Analyst sentiment remains cautious overall: Victory Capital has a consensus “Hold” rating and an average price target of $119.50.
• The company’s latest quarterly results slightly missed expectations, reporting earnings of $1.98 per share versus $1.99 forecast and revenue of $396.57 million versus $411.23 million expected.

Victory Capital (NASDAQ:VCTR - Get Free Report) had its price target lifted by investment analysts at Barclays from $121.00 to $126.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price target would suggest a potential upside of 7.87% from the stock's previous close.

Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Victory Capital from $101.00 to $120.00 and gave the stock a "neutral" rating in a report on Friday, October 16th. Zacks Research lowered shares of Victory Capital from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. Weiss Ratings upgraded shares of Victory Capital from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Thursday, October 8th. The Goldman Sachs Group boosted their target price on shares of Victory Capital from $100.00 to $117.00 and gave the stock a "neutral" rating in a research note on Thursday, August 27th. Finally, Morgan Stanley upped their price target on shares of Victory Capital from $115.00 to $119.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Victory Capital presently has a consensus rating of "Hold" and a consensus target price of $119.50.

Victory Capital Price Performance

Shares of Victory Capital stock traded up $4.40 on Friday, reaching $116.81. The company's stock had a trading volume of 67,652 shares, compared to its average volume of 588,713. The company has a market capitalization of $7.19 billion, a P/E ratio of 21.46, a PEG ratio of 0.56 and a beta of 1.12. Victory Capital has a 52-week low of $57.03 and a 52-week high of $123.55. The stock has a 50-day moving average price of $110.82 and a 200-day moving average price of $90.07. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Victory Capital (NASDAQ:VCTR - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.01). Victory Capital had a return on equity of 24.46% and a net margin of 28.58%. The business had revenue of $396.57 million for the quarter, compared to analyst estimates of $411.23 million. Analysts expect that Victory Capital will post 7.78 EPS for the current year.

Hedge Funds Weigh In On Victory Capital

Several hedge funds and other institutional investors have recently modified their holdings of VCTR. R Squared Ltd purchased a new position in Victory Capital during the third quarter worth about $232,000. CENTRAL TRUST Co boosted its holdings in Victory Capital by 51.1% in the 3rd quarter. CENTRAL TRUST Co now owns 281 shares of the company's stock valued at $31,000 after purchasing an additional 95 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Victory Capital by 63.2% in the 3rd quarter. Maryland State Retirement & Pension System now owns 10,981 shares of the company's stock valued at $1,214,000 after buying an additional 4,251 shares during the period. Ritholtz Wealth Management grew its stake in shares of Victory Capital by 7.3% in the 3rd quarter. Ritholtz Wealth Management now owns 12,533 shares of the company's stock valued at $1,386,000 after buying an additional 858 shares during the period. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Victory Capital by 3.9% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 25,053 shares of the company's stock valued at $2,771,000 after buying an additional 945 shares during the period. 87.71% of the stock is owned by hedge funds and other institutional investors.

Victory Capital Company Profile

Victory Capital Holdings, Inc is a global investment management company headquartered in San Antonio, Texas. The company provides investment solutions to individual investors, financial professionals, institutions, retirement plans and other organizations through a range of investment strategies and distribution channels.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, model portfolios, collective investment trusts and customized institutional mandates.

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