Viking (NYSE:VIK) Hits New 52-Week High Following Analyst Upgrade

Key Points

• Viking shares reached a new 52-week high of $110.09 after Wells Fargo raised its price target from $109 to $128 while maintaining an overweight rating.
• Analyst sentiment is broadly positive, with Viking receiving a consensus “Moderate Buy” rating and an average price target of $105.11; recent upgrades came from Truist, JPMorgan, Goldman Sachs and Loop Capital.
• Viking reported quarterly revenue of $1.05 billion, up 17.5% year over year and above expectations, while institutional investors and hedge funds own 98.84% of the company’s shares.

Viking Holdings Ltd. (NYSE:VIK - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday after Wells Fargo & Company raised their price target on the stock from $109.00 to $128.00. Wells Fargo & Company currently has an overweight rating on the stock. Viking traded as high as $110.09 and last traded at $108.3110, with a volume of 1916236 shares trading hands. The stock had previously closed at $107.52.

Several other equities analysts also recently issued reports on VIK. Truist Financial raised Viking from a "hold" rating to a "buy" rating and upped their target price for the company from $75.00 to $102.00 in a research report on Friday, May 22nd. Mizuho raised their price objective on Viking from $69.00 to $75.00 and gave the stock an "underperform" rating in a research note on Friday, May 15th. JPMorgan Chase & Co. lifted their target price on Viking from $87.00 to $104.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Loop Capital initiated coverage on shares of Viking in a report on Monday, June 1st. They issued a "buy" rating and a $108.00 price target on the stock. Finally, The Goldman Sachs Group raised their price target on shares of Viking from $108.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $105.11.

Insider Transactions at Viking

In other Viking news, EVP Richard Marnell sold 11,287 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $92.85, for a total value of $1,047,997.95. Following the completion of the transaction, the executive vice president directly owned 117,050 shares of the company's stock, valued at approximately $10,868,092.50. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 17,566 shares of company stock valued at $1,640,166 over the last three months.

Hedge Funds Weigh In On Viking

Several large investors have recently made changes to their positions in the company. Handelsbanken Fonder AB boosted its holdings in Viking by 5.3% during the second quarter. Handelsbanken Fonder AB now owns 41,900 shares of the company's stock worth $4,386,000 after buying an additional 2,100 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in Viking during the second quarter valued at $151,000. Finivi Inc. purchased a new position in Viking in the second quarter valued at $242,000. LifeGoal Investments LLC acquired a new position in shares of Viking in the second quarter worth about $316,000. Finally, Orser Capital Management LLC acquired a new position in shares of Viking in the second quarter worth about $3,061,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Viking Stock Performance

The business's 50-day simple moving average is $98.31 and its two-hundred day simple moving average is $84.28. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 5.27. The firm has a market cap of $48.27 billion, a price-to-earnings ratio of 40.26, a P/E/G ratio of 1.23 and a beta of 1.50.

Viking (NYSE:VIK - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.11) EPS for the quarter, meeting analysts' consensus estimates of ($0.11). Viking had a return on equity of 149.40% and a net margin of 18.00%.The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the firm earned ($0.24) EPS. The company's quarterly revenue was up 17.5% on a year-over-year basis. As a group, sell-side analysts expect that Viking Holdings Ltd. will post 3.32 earnings per share for the current fiscal year.

Viking Company Profile

Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships.

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