Victory Capital's (VCTR) "Buy (B)" Rating Reaffirmed at Weiss Ratings

Key Points

• Victory Capital's stock has been reaffirmed with a "buy" rating by Weiss Ratings and has received multiple price target increases from other firms, reflecting strong analyst support.
• The company reported significantly increased earnings for the last quarter, with earnings per share of $1.57, surpassing estimates and marking a year-over-year revenue growth of 59.9%.
• Institutional investors now hold 87.71% of the company's stock, indicating strong support and confidence among major financial players.

Victory Capital (NASDAQ:VCTR - Get Free Report)'s stock had its "buy (b)" rating reissued by equities researchers at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

VCTR has been the subject of a number of other reports. Morgan Stanley lifted their price target on shares of Victory Capital from $67.00 to $69.00 and gave the company a "positive" rating in a research report on Monday, October 6th. Bank of America raised their target price on shares of Victory Capital from $83.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Barclays decreased their target price on shares of Victory Capital from $72.00 to $68.00 and set an "equal weight" rating for the company in a research note on Tuesday. Zacks Research raised shares of Victory Capital from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 7th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $76.00 target price on shares of Victory Capital in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Victory Capital currently has an average rating of "Moderate Buy" and a consensus target price of $74.00.

Victory Capital Trading Up 0.6%

Shares of VCTR traded up $0.38 during trading hours on Friday, reaching $63.57. 230,662 shares of the company traded hands, compared to its average volume of 416,990. The company's fifty day moving average price is $68.00 and its two-hundred day moving average price is $64.85. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 0.64 and a beta of 1.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.39. Victory Capital has a 12 month low of $47.00 and a 12 month high of $73.42.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System lifted its position in Victory Capital by 418.8% during the third quarter. New York State Teachers Retirement System now owns 19,477 shares of the company's stock valued at $1,261,000 after purchasing an additional 15,723 shares during the period. Oregon Public Employees Retirement Fund bought a new position in Victory Capital during the third quarter valued at approximately $719,000. State of Alaska Department of Revenue bought a new position in Victory Capital during the third quarter valued at approximately $1,803,000. SG Americas Securities LLC lifted its position in Victory Capital by 475.6% during the third quarter. SG Americas Securities LLC now owns 13,198 shares of the company's stock valued at $855,000 after purchasing an additional 10,905 shares during the period. Finally, Louisiana State Employees Retirement System bought a new position in Victory Capital during the third quarter valued at approximately $1,470,000. Institutional investors 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.

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