Morgan Stanley Issues Positive Forecast for Viking (NYSE:VIK) Stock Price

Key Points

• Morgan Stanley has increased its price target for Viking (NYSE:VIK) stock from $62 to $66, indicating a potential upside of 13.47% from the current price.
• Various analysts have rated Viking as a "Moderate Buy," with a consensus price target of $56.27, reflecting positive sentiment among investment analysts.
• Recently, Viking reported $1.88 billion in quarterly revenue, exceeding expectations, though it missed earnings per share estimates by $0.01.

Viking (NYSE:VIK - Get Free Report) had its price objective boosted by research analysts at Morgan Stanley from $62.00 to $66.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 13.47% from the company's current price.

A number of other equities analysts also recently commented on the stock. Truist Financial upped their target price on Viking from $50.00 to $55.00 and gave the company a "hold" rating in a report on Monday, July 21st. Loop Capital restated a "buy" rating on shares of Viking in a research report on Wednesday, May 21st. JPMorgan Chase & Co. increased their price objective on Viking from $58.00 to $61.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Barclays boosted their target price on shares of Viking from $45.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Finally, Northcoast Research began coverage on shares of Viking in a research note on Friday, April 25th. They set a "buy" rating and a $51.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.27.

Viking Trading Down 1.8%

Shares of VIK traded down $1.0560 during midday trading on Wednesday, reaching $58.1640. 756,907 shares of the company were exchanged, compared to its average volume of 3,172,099. The stock has a 50-day moving average price of $55.39 and a 200-day moving average price of $47.99. The company has a market cap of $25.77 billion, a price-to-earnings ratio of 47.26, a P/E/G ratio of 0.70 and a beta of 2.40. Viking has a 1-year low of $30.75 and a 1-year high of $60.97.

Viking (NYSE:VIK - Get Free Report) last announced its earnings results on Tuesday, August 19th. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.00 by ($0.01). Viking had a negative return on equity of 128.44% and a net margin of 9.60%.The business had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm's revenue was up 18.5% compared to the same quarter last year. Equities research analysts anticipate that Viking will post 1.49 earnings per share for the current year.

Institutional Trading of Viking

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. lifted its holdings in shares of Viking by 400.3% during the second quarter. Invesco Ltd. now owns 10,577,113 shares of the company's stock worth $563,654,000 after purchasing an additional 8,462,947 shares during the period. Norges Bank acquired a new position in Viking in the second quarter valued at $236,911,000. Select Equity Group L.P. lifted its holdings in Viking by 26.9% in the fourth quarter. Select Equity Group L.P. now owns 17,279,911 shares of the company's stock valued at $761,353,000 after buying an additional 3,658,225 shares during the period. Two Sigma Advisers LP lifted its holdings in Viking by 4,840.2% in the fourth quarter. Two Sigma Advisers LP now owns 2,321,900 shares of the company's stock valued at $102,303,000 after buying an additional 2,274,900 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in Viking by 1,972.0% in the fourth quarter. Two Sigma Investments LP now owns 2,385,193 shares of the company's stock valued at $105,092,000 after buying an additional 2,270,075 shares during the period. Institutional investors own 98.84% of the company's stock.

Viking Company Profile

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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