Viking (NYSE:VIK) Price Target Raised to $70.00 at Bank of America

Viking (NYSE:VIK - Free Report) had its price objective boosted by Bank of America from $51.00 to $70.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

VIK has been the subject of a number of other reports. Jefferies Financial Group upped their target price on Viking from $45.00 to $52.00 and gave the company a "hold" rating in a research report on Monday, July 7th. Stifel Nicolaus set a $50.00 target price on Viking and gave the company a "buy" rating in a research report on Wednesday, May 21st. Citigroup upped their target price on Viking from $57.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Wall Street Zen cut Viking from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Melius Research set a $51.00 price objective on Viking in a research report on Monday, April 21st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $53.33.

Viking Stock Performance

Shares of NYSE:VIK traded down $0.61 on Wednesday, hitting $57.67. 2,601,510 shares of the company's stock were exchanged, compared to its average volume of 3,474,804. The firm's 50-day moving average is $50.54 and its 200 day moving average is $46.40. The company has a market capitalization of $25.55 billion, a PE ratio of 46.88, a P/E/G ratio of 0.70 and a beta of 2.38. Viking has a 1-year low of $30.56 and a 1-year high of $58.70.

Viking (NYSE:VIK - Get Free Report) last announced its earnings results on Tuesday, May 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.02. The firm had revenue of $897.06 million during the quarter, compared to analysts' expectations of $841.18 million. Viking had a negative return on equity of 128.44% and a net margin of 9.60%. The business's revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.21) EPS. On average, analysts anticipate that Viking will post 1.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Viking

A number of large investors have recently modified their holdings of VIK. Costello Asset Management INC purchased a new position in shares of Viking during the 1st quarter worth approximately $33,000. Harbour Investments Inc. increased its stake in Viking by 37.2% in the 1st quarter. Harbour Investments Inc. now owns 1,277 shares of the company's stock valued at $51,000 after purchasing an additional 346 shares in the last quarter. NewEdge Advisors LLC increased its stake in Viking by 92.0% in the 1st quarter. NewEdge Advisors LLC now owns 1,440 shares of the company's stock valued at $57,000 after purchasing an additional 690 shares in the last quarter. Quarry LP purchased a new position in Viking in the 4th quarter valued at approximately $66,000. Finally, Orion Capital Management LLC purchased a new position in Viking in the 4th quarter valued at approximately $110,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

About Viking

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.