Victory Capital (NASDAQ:VCTR) Price Target Raised to $72.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its price target on Victory Capital from $71 to $72 and kept a neutral rating, which implies roughly a 3.6% downside from the stock's prior close.
• Analyst views are mixed: the consensus is a Hold with a $76.13 target, while individual targets range from RBC's $84 "outperform" to Barclays' $74 "negative" and Morgan Stanley's $69 "equal weight."
• Shares traded near $74.67 after the company reported a quarter with EPS of $1.78 (beating estimates) and revenue up about 61% year-over-year

Victory Capital (NASDAQ:VCTR - Get Free Report) had its price objective boosted by analysts at JPMorgan Chase & Co. from $71.00 to $72.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential downside of 3.57% from the company's previous close.

Several other analysts also recently commented on the stock. Barclays upped their price objective on shares of Victory Capital from $69.00 to $74.00 and gave the company a "negative" rating in a report on Friday. Wall Street Zen cut Victory Capital from a "buy" rating to a "hold" rating in a report on Monday, April 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Victory Capital in a report on Wednesday, January 21st. Royal Bank Of Canada upped their price objective on Victory Capital from $78.00 to $84.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 10th. Finally, Morgan Stanley dropped their price objective on Victory Capital from $70.00 to $69.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 3rd. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $76.13.

Victory Capital Stock Performance

Shares of NASDAQ VCTR traded up $0.80 during mid-day trading on Monday, hitting $74.67. The stock had a trading volume of 193,156 shares, compared to its average volume of 627,368. The firm has a market cap of $4.78 billion, a PE ratio of 18.35, a PEG ratio of 1.08 and a beta of 1.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.47 and a current ratio of 1.47. The company has a 50 day moving average of $69.93 and a two-hundred day moving average of $66.75. Victory Capital has a twelve month low of $53.65 and a twelve month high of $77.78.

Victory Capital (NASDAQ:VCTR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.12. Victory Capital had a return on equity of 21.86% and a net margin of 25.27%.The business had revenue of $374.12 million for the quarter, compared to the consensus estimate of $371.09 million. During the same quarter in the previous year, the business earned $1.45 EPS. The company's quarterly revenue was up 61.0% compared to the same quarter last year. Research analysts predict that Victory Capital will post 6.16 EPS for the current fiscal year.

Institutional Trading of Victory Capital

Several hedge funds and other institutional investors have recently bought and sold shares of VCTR. Caitong International Asset Management Co. Ltd lifted its stake in shares of Victory Capital by 19,350.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 389 shares of the company's stock valued at $25,000 after buying an additional 387 shares during the period. Core Wealth Advisors LLC acquired a new position in Victory Capital in the 4th quarter valued at approximately $30,000. Covestor Ltd lifted its position in shares of Victory Capital by 99.7% in the 4th quarter. Covestor Ltd now owns 669 shares of the company's stock worth $42,000 after acquiring an additional 334 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Victory Capital by 48.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 753 shares of the company's stock worth $48,000 after purchasing an additional 246 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Victory Capital by 146.4% during the fourth quarter. GAMMA Investing LLC now owns 860 shares of the company's stock valued at $54,000 after purchasing an additional 511 shares during the period. 87.71% of the stock is currently owned by institutional investors and hedge funds.

About Victory Capital

Victory Capital NASDAQ: VCTR is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.

Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.

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.