Victory Capital (NASDAQ:VCTR) Given New $67.00 Price Target at Morgan Stanley

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 objective raised by analysts at Morgan Stanley from $66.00 to $67.00 in a report issued on Monday, MarketBeat.com reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price objective would suggest a potential downside of 6.66% from the company's previous close.

Several other equities analysts have also recently issued reports on VCTR. B. Riley lifted their price objective on Victory Capital from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen cut Victory Capital from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Barclays lifted their price objective on Victory Capital from $62.00 to $68.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. UBS Group decreased their target price on Victory Capital from $71.00 to $68.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Royal Bank Of Canada boosted their target price on Victory Capital from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $73.22.

Victory Capital Stock Up 2.9%

Shares of VCTR traded up $2.00 during midday trading on Monday, hitting $71.78. The company had a trading volume of 882,827 shares, compared to its average volume of 619,736. The company's 50-day simple moving average is $67.16 and its 200-day simple moving average is $62.97. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $4.79 billion, a P/E ratio of 17.72, a P/E/G ratio of 0.74 and a beta of 1.04. Victory Capital has a 1 year low of $47.00 and a 1 year high of $73.42.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VCTR. Wells Fargo & Company MN grew its holdings in Victory Capital by 8.9% during the fourth quarter. Wells Fargo & Company MN now owns 71,957 shares of the company's stock worth $4,710,000 after acquiring an additional 5,861 shares during the period. Legal & General Group Plc grew its holdings in Victory Capital by 25.7% during the fourth quarter. Legal & General Group Plc now owns 48,065 shares of the company's stock worth $3,146,000 after acquiring an additional 9,812 shares during the period. Raymond James Financial Inc. acquired a new position in Victory Capital during the fourth quarter worth $3,813,000. Summit Investment Advisors Inc. grew its holdings in Victory Capital by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,303 shares of the company's stock worth $282,000 after acquiring an additional 273 shares during the period. Finally, First Trust Advisors LP grew its holdings in Victory Capital by 76.0% during the fourth quarter. First Trust Advisors LP now owns 78,642 shares of the company's stock worth $5,148,000 after acquiring an additional 33,953 shares during the period. Institutional investors and hedge funds own 87.71% of the company's stock.

About Victory Capital

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.