Victory Capital (NASDAQ:VCTR) Upgraded at Zacks Research

Key Points

• Victory Capital's stock was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating, indicating bullish sentiment among analysts.
• Various research firms have increased their target prices for Victory Capital, with Bank of America raising its target from $83.00 to $84.00 and Morgan Stanley adjusting theirs from $67.00 to $69.00.
• Victory Capital reported earnings of $1.57 per share for the last quarter, surpassing analysts' expectations of $1.47 per share and showing a 59.9% increase in revenue year-over-year.

Victory Capital (NASDAQ:VCTR - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research firms have also issued reports on VCTR. Bank of America increased their target price on Victory Capital from $83.00 to $84.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Morgan Stanley increased their target price on Victory Capital from $67.00 to $69.00 and gave the company a "positive" rating in a report on Monday. Barclays increased their target price on Victory Capital from $62.00 to $68.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. B. Riley increased their target price on Victory Capital from $74.00 to $82.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $76.00 target price on shares of Victory Capital in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $74.00.

Victory Capital Price Performance

Shares of NASDAQ:VCTR opened at $67.37 on Tuesday. Victory Capital has a one year low of $47.00 and a one year high of $73.42. The stock has a fifty day moving average of $68.94 and a 200-day moving average of $64.16. The company has a market capitalization of $4.50 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 0.67 and a beta of 1.07. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.37 and a current ratio of 1.37.

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

Institutional Trading of Victory Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in shares of Victory Capital by 2,131.6% during the second quarter. Nisa Investment Advisors LLC now owns 424 shares of the company's stock worth $27,000 after acquiring an additional 405 shares in the last quarter. Maseco LLP acquired a new position in Victory Capital during the second quarter worth $30,000. Opal Wealth Advisors LLC acquired a new position in Victory Capital during the first quarter worth $37,000. Caitong International Asset Management Co. Ltd acquired a new position in Victory Capital during the first quarter worth $41,000. Finally, Quantbot Technologies LP increased its position in Victory Capital by 206.0% during the second quarter. Quantbot Technologies LP now owns 1,224 shares of the company's stock worth $78,000 after buying an additional 824 shares during the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

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.

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