Morgan Stanley Forecasts Strong Price Appreciation for Victory Capital (NASDAQ:VCTR) Stock

Key Points

• Morgan Stanley has raised the price target for Victory Capital from $66.00 to $67.00, maintaining an "equal weight" rating, which shows a potential downside of 5.99% from its previous close.
• Victory Capital's most recent quarterly earnings report showed earnings per share (EPS) of $1.57, exceeding estimates, and a 59.9% year-over-year increase in revenue.
• The company is seeing increased institutional interest, with several hedge funds boosting their stakes in Victory Capital during the first quarter, now holding 87.71% of the stock.

Victory Capital (NASDAQ:VCTR - Get Free Report) had its price target lifted by analysts at Morgan Stanley from $66.00 to $67.00 in a research report issued on Monday, Marketbeat Ratings reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price target would indicate a potential downside of 6.29% from the company's current price.

A number of other research analysts also recently issued reports on VCTR. UBS Group lowered their price target on Victory Capital from $71.00 to $68.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Barclays upped their target price on shares of Victory Capital from $62.00 to $68.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. B. Riley lifted their price target on shares of Victory Capital from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen cut shares of Victory Capital from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Victory Capital from $69.00 to $62.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.33.

Victory Capital Stock Up 0.8%

Victory Capital stock traded up $0.5890 during trading hours on Monday, hitting $71.4990. The stock had a trading volume of 53,855 shares, compared to its average volume of 423,629. The stock's 50-day moving average price is $66.51 and its 200-day moving average price is $62.78. Victory Capital has a 12-month low of $47.00 and a 12-month high of $73.42. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $4.77 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 0.78 and a beta of 1.04.

Victory Capital (NASDAQ:VCTR - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.10. The company had revenue of $351.21 million during the quarter, compared to the consensus estimate of $348.89 million. Victory Capital had a net margin of 27.18% and a return on equity of 26.46%. The firm's quarterly revenue was up 59.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 earnings per share. Equities research analysts anticipate that Victory Capital will post 6.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Amundi bought a new stake in shares of Victory Capital during the second quarter valued at approximately $213,219,000. Nuveen LLC bought a new stake in Victory Capital in the 1st quarter valued at $27,274,000. Bank of America Corp DE lifted its stake in Victory Capital by 46.8% in the 4th quarter. Bank of America Corp DE now owns 1,438,413 shares of the company's stock worth $94,159,000 after purchasing an additional 458,534 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Victory Capital by 26.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,359,120 shares of the company's stock valued at $86,545,000 after purchasing an additional 285,137 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its position in shares of Victory Capital by 17.2% during the first quarter. Bahl & Gaynor Inc. now owns 1,825,998 shares of the company's stock valued at $105,671,000 after purchasing an additional 268,573 shares in the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

Victory Capital Company Profile

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.