Barclays Forecasts Strong Price Appreciation for Viking (NYSE:VIK) Stock

Key Points

• Barclays raised its price target on Viking to $93 from $88, while keeping an “equal weight” rating. The new target still implies a downside of about 7.1% from the stock’s current price.
• Analyst sentiment remains broadly positive overall, with 14 Buy ratings, three Holds, and one Sell. MarketBeat says the consensus target price is $97.76 and the stock is rated a “Moderate Buy.”
• Viking recently beat revenue expectations in its latest quarterly results, reporting $1.05 billion in revenue versus the $1.01 billion estimate, with revenue up 17.5% year over year. The company matched EPS expectations at -$0.11 for the quarter.

Viking (NYSE:VIK - Get Free Report) had its price target upped by Barclays from $88.00 to $93.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's target price points to a potential downside of 7.13% from the company's current price.

A number of other analysts also recently weighed in on VIK. Loop Capital started coverage on Viking in a research report on Monday, June 1st. They issued a "buy" rating and a $108.00 target price for the company. Citigroup reissued a "buy" rating on shares of Viking in a research note on Friday, May 15th. Rothschild & Co Redburn set a $95.00 target price on shares of Viking and gave the company a "buy" rating in a report on Tuesday, April 14th. Morgan Stanley reaffirmed an "equal weight" rating and set a $86.00 price objective (up from $81.00) on shares of Viking in a research note on Friday, May 15th. Finally, JPMorgan Chase & Co. increased their target price on Viking from $87.00 to $104.00 and gave the company an "overweight" rating in a report on Monday, April 27th. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.76.

Viking Stock Down 0.4%

Shares of NYSE:VIK opened at $100.14 on Wednesday. The firm has a market capitalization of $44.63 billion, a PE ratio of 37.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.48. The company has a debt-to-equity ratio of 5.27, a quick ratio of 0.76 and a current ratio of 0.78. Viking has a 52-week low of $54.78 and a 52-week high of $105.76. The firm has a fifty day moving average of $90.85 and a 200 day moving average of $80.01.

Viking (NYSE:VIK - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. Viking had a return on equity of 149.40% and a net margin of 18.00%.The company's revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.24) earnings per share. As a group, research analysts anticipate that Viking will post 3.28 EPS for the current fiscal year.

Insider Transactions at Viking

In other news, EVP Jeffrey Dash sold 46,369 shares of the company's stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $80.23, for a total transaction of $3,720,184.87. Following the completion of the transaction, the executive vice president directly owned 420,022 shares of the company's stock, valued at approximately $33,698,365.06. This represents a 9.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard Marnell sold 11,287 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $92.85, for a total transaction of $1,047,997.95. Following the sale, the executive vice president owned 117,050 shares of the company's stock, valued at approximately $10,868,092.50. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 63,935 shares of company stock worth $5,360,351 in the last 90 days.

Institutional Investors Weigh In On Viking

A number of large investors have recently made changes to their positions in the business. Basecamp Wealth Advisors LLC bought a new position in shares of Viking during the first quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. purchased a new position in Viking during the 3rd quarter valued at $26,000. Activest Wealth Management raised its holdings in Viking by 19,500.0% in the 4th quarter. Activest Wealth Management now owns 392 shares of the company's stock worth $28,000 after purchasing an additional 390 shares in the last quarter. Bank of Jackson Hole Trust bought a new position in Viking in the 4th quarter worth $28,000. Finally, Cornerstone Planning Group LLC lifted its position in shares of Viking by 316.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 416 shares of the company's stock worth $29,000 after purchasing an additional 316 shares during the period. 98.84% of the stock is currently owned by institutional investors.

About Viking

Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships.

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