Viking (NYSE:VIK) Price Target Raised to $120.00 at The Goldman Sachs Group

Key Points

• Goldman Sachs raised Viking’s price target from $108 to $120 and maintained a “Buy” rating, implying roughly 15.5% upside from the previous close.
• Analyst sentiment remains broadly positive: Viking has a consensus “Moderate Buy” rating and an average price target of $104.06, with recent upgrades and targets as high as $121.
• Viking reported quarterly revenue of $1.05 billion, ahead of the $1.01 billion consensus estimate, while revenue increased 17.5% year over year; shares closed at $103.93, near their 12-month high.

Viking (NYSE:VIK - Get Free Report) had its price objective boosted by investment analysts at The Goldman Sachs Group from $108.00 to $120.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. The Goldman Sachs Group's target price would indicate a potential upside of 15.46% from the stock's previous close.

Several other equities research analysts have also issued reports on the stock. BMO Capital Markets initiated coverage on shares of Viking in a research note on Tuesday, July 7th. They set an "outperform" rating and a $115.00 target price on the stock. Weiss Ratings lowered Viking from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 18th. Loop Capital initiated coverage on Viking in a report on Monday, June 1st. They issued a "buy" rating and a $108.00 price target for the company. BNP Paribas Exane reiterated an "outperform" rating and set a $121.00 price target (up from $104.00) on shares of Viking in a research report on Tuesday, July 14th. Finally, Truist Financial raised Viking from a "hold" rating to a "buy" rating and raised their price objective for the company from $75.00 to $102.00 in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.06.

Viking Stock Performance

Shares of NYSE VIK traded down $0.52 during midday trading on Friday, reaching $103.93. 692,007 shares of the stock were exchanged, compared to its average volume of 2,768,505. The firm has a market cap of $46.32 billion, a price-to-earnings ratio of 38.63, a PEG ratio of 1.18 and a beta of 1.48. Viking has a twelve month low of $55.55 and a twelve month high of $105.86. The firm has a 50-day simple moving average of $96.76 and a two-hundred day simple moving average of $83.29. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 5.27.

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

Insider Buying and Selling at Viking

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VIK. Handelsbanken Fonder AB grew its position in shares of Viking by 5.3% in the second quarter. Handelsbanken Fonder AB now owns 41,900 shares of the company's stock valued at $4,386,000 after purchasing an additional 2,100 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in Viking in the 2nd quarter valued at $151,000. Finivi Inc. acquired a new stake in shares of Viking in the 2nd quarter worth $242,000. LifeGoal Investments LLC purchased a new position in shares of Viking during the 2nd quarter worth $316,000. Finally, Orser Capital Management LLC purchased a new position in shares of Viking during the 2nd quarter worth $3,061,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

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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