Viking (NYSE:VIK) Stock Price Target Lowered at Wells Fargo & Company

Key Points

• Wells Fargo lowered its Viking price target from $128 to $118 but maintained an “overweight” rating; the revised target implies 34.72% upside from the stock’s current price.
• Analyst sentiment remains broadly positive: Viking has a “Moderate Buy” consensus rating and a $107.44 average price target, based on 20 analyst ratings.
• In its latest reported quarter, Viking beat estimates with earnings of $1.31 per share and revenue of $2.19 billion; revenue rose 16.5% year over year.

Viking (NYSE:VIK - Get Free Report) had its target price dropped by investment analysts at Wells Fargo & Company from $128.00 to $118.00 in a research note issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 34.72% from the stock's current price.

A number of other equities analysts have also recently issued reports on VIK. Susquehanna decreased their price objective on shares of Viking from $105.00 to $100.00 and set a "positive" rating on the stock in a research report on Tuesday, October 20th. Truist Financial cut their target price on Viking from $102.00 to $98.00 and set a "buy" rating on the stock in a research note on Thursday, September 24th. UBS Group restated a "buy" rating on shares of Viking in a report on Wednesday, September 30th. Benchmark upgraded Viking to a "strong-buy" rating in a report on Friday, September 25th. Finally, Bank of America lowered their price target on Viking from $115.00 to $105.00 in a research report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.44.

Viking Stock Performance

NYSE:VIK opened at $87.59 on Monday. The firm has a market cap of $39.04 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 1.06 and a beta of 1.39. Viking has a fifty-two week low of $56.67 and a fifty-two week high of $110.09. The company has a debt-to-equity ratio of 3.61, a quick ratio of 0.79 and a current ratio of 0.81. The business has a 50 day moving average price of $84.08 and a 200-day moving average price of $85.47.

Viking (NYSE:VIK - Get Free Report) last issued its earnings results on Thursday, August 20th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.26 by $0.05. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. Viking had a net margin of 19.33% and a return on equity of 117.98%. The firm's revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 earnings per share. Equities research analysts predict that Viking will post 3.14 earnings per share for the current year.

Insiders Place Their Bets

In other Viking news, EVP Milton Hugh sold 20,000 shares of the firm's stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $90.19, for a total transaction of $1,803,800.00. Following the completion of the transaction, the executive vice president owned 565,571 shares of the company's stock, valued at approximately $51,008,848.49. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey Dash sold 25,000 shares of the business's stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $90.23, for a total transaction of $2,255,750.00. Following the sale, the executive vice president owned 395,022 shares in the company, valued at approximately $35,642,835.06. This trade represents a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 65,000 shares of company stock valued at $5,770,950.

Institutional Investors Weigh In On Viking

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aberdeen Group plc bought a new position in Viking in the third quarter worth approximately $121,701,000. Compass Capital Management Inc. boosted its stake in shares of Viking by 164.8% during the 3rd quarter. Compass Capital Management Inc. now owns 69,531 shares of the company's stock worth $5,446,000 after acquiring an additional 43,269 shares during the last quarter. Allworth Financial LP grew its position in shares of Viking by 1.7% during the 3rd quarter. Allworth Financial LP now owns 11,677 shares of the company's stock valued at $915,000 after acquiring an additional 190 shares during the period. Private Advisory Group LLC grew its position in shares of Viking by 117.2% during the 3rd quarter. Private Advisory Group LLC now owns 16,785 shares of the company's stock valued at $1,315,000 after acquiring an additional 9,056 shares during the period. Finally, Eurizon Capital SGR S.p.A. increased its stake in shares of Viking by 48.5% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 3,673 shares of the company's stock worth $288,000 after purchasing an additional 1,199 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Viking Company Profile

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.