Viking (NYSE:VIK) Sets New 52-Week High - Here's Why

Key Points

• Viking Holdings Ltd. (NYSE:VIK) achieved a new 52-week high with shares reaching $58.85 during trading, up from a previous close of $58.34.
• The company reported a net revenue of $897.06 million for the previous quarter, exceeding consensus estimates and showing a year-over-year increase of 24.9%.
• Investment analysts maintain a moderate buy rating on the stock, with an average price target of $53.33, as several firms adjusted their ratings and price targets recently.

Viking Holdings Ltd. (NYSE:VIK - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as $58.85 and last traded at $58.76, with a volume of 43509 shares. The stock had previously closed at $58.34.

Wall Street Analyst Weigh In

VIK has been the subject of a number of research reports. Wall Street Zen lowered shares of Viking from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Truist Financial lifted their target price on shares of Viking from $50.00 to $55.00 and gave the company a "hold" rating in a research note on Monday, July 21st. Citigroup raised their price target on shares of Viking from $57.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. raised their price target on shares of Viking from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Finally, The Goldman Sachs Group cut their price target on shares of Viking from $51.00 to $44.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $53.33.

Viking Price Performance

The firm has a market capitalization of $25.91 billion, a P/E ratio of 47.56, a P/E/G ratio of 0.68 and a beta of 2.38. The stock's 50 day moving average is $50.96 and its two-hundred day moving average is $46.65.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Costello Asset Management INC acquired a new stake in shares of Viking during the 1st quarter worth about $33,000. Harbour Investments Inc. lifted its stake in shares of Viking by 37.2% during the 1st quarter. Harbour Investments Inc. now owns 1,277 shares of the company's stock worth $51,000 after buying an additional 346 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Viking by 92.0% during the 1st quarter. NewEdge Advisors LLC now owns 1,440 shares of the company's stock worth $57,000 after buying an additional 690 shares during the last quarter. Quarry LP acquired a new stake in shares of Viking during the 4th quarter worth about $66,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Viking during the 4th quarter worth about $110,000. Institutional investors and hedge funds own 98.84% of the company's stock.

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.

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