Viking (NYSE:VIK) Sets New 52-Week High - Time to Buy?

Key Points

• Viking Holdings hit a new 52-week high, trading as high as $101.34 and last near $101.17 on heavy volume. The move came after the stock had already climbed well above its 50-day and 200-day moving averages.
• Analysts remain broadly constructive on VIK, with Sanford C. Bernstein starting coverage at an “outperform” rating and a $120 target. The consensus rating is “Moderate Buy,” with a consensus price target of $96.38.
• Recent fundamentals were solid: Viking matched EPS expectations, topped revenue estimates, and posted 17.5% year-over-year revenue growth in its latest quarter. However, insiders have recently sold shares, and the company still carries notable leverage with a debt-to-equity ratio of 5.27.

Viking Holdings Ltd. (NYSE:VIK - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $101.34 and last traded at $101.17, with a volume of 3750425 shares. The stock had previously closed at $100.05.

Key Headlines Impacting Viking

Here are the key news stories impacting Viking this week:

• Positive Sentiment: Viking announced a new senior vice president of sales, a leadership move that could support growth and strengthen commercial execution. Viking announces new senior vice president of sales
• Neutral Sentiment: Several viral “Viking row” stories tied to Norway’s World Cup celebrations are circulating, but these articles are about sports/fan culture rather than Viking Holdings’ cruise business, so they are unlikely to materially affect the stock. Norway fans take over Times Square with Viking row
• Neutral Sentiment: A market article highlighting shipping stocks may offer a broad sector read-through, but it does not specifically change Viking Holdings’ outlook on its own. Best Shipping Stocks To Consider - June 21st

Analysts Set New Price Targets

A number of equities research analysts have recently commented on VIK shares. Sanford C. Bernstein began coverage on shares of Viking in a report on Wednesday, June 3rd. They set an "outperform" rating and a $120.00 price target on the stock. Weiss Ratings lowered shares of Viking from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 18th. Stifel Nicolaus set a $105.00 price objective on Viking in a research report on Friday, May 15th. Wall Street Zen downgraded Viking from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Citigroup reissued a "buy" rating on shares of Viking in a report on Friday, May 15th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Viking currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.38.

Viking Price Performance

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's fifty day moving average price is $86.74 and its two-hundred day moving average price is $77.65. The stock has a market capitalization of $45.09 billion, a PE ratio of 37.61, a PEG ratio of 1.45 and a beta of 1.59.

Viking (NYSE:VIK - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Viking had a net margin of 18.00% and a return on equity of 149.40%. The company had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the company posted ($0.24) earnings per share. The firm's quarterly revenue was up 17.5% on a year-over-year basis. On average, equities analysts predict that Viking Holdings Ltd. will post 3.28 earnings per share for the current year.

Insider Buying and Selling at Viking

In other news, EVP Richard Marnell sold 11,287 shares of the firm's stock in a transaction 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 transaction, the executive vice president directly owned 117,050 shares in the company, valued at $10,868,092.50. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeffrey Dash sold 46,369 shares of Viking stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $80.23, for a total value of $3,720,184.87. Following the completion of the sale, the executive vice president directly owned 420,022 shares of the company's stock, valued at $33,698,365.06. The trade was a 9.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 92,566 shares of company stock worth $7,657,130 over the last three months.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in shares of Viking in the 3rd quarter worth approximately $26,000. Activest Wealth Management grew its position in Viking by 19,500.0% during the fourth quarter. Activest Wealth Management now owns 392 shares of the company's stock valued at $28,000 after buying an additional 390 shares during the period. Bank of Jackson Hole Trust bought a new stake in Viking during the fourth quarter valued at approximately $28,000. Cornerstone Planning Group LLC increased its holdings in Viking by 316.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 416 shares of the company's stock valued at $29,000 after buying an additional 316 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in Viking by 651.8% during the fourth quarter. SBI Securities Co. Ltd. now owns 421 shares of the company's stock valued at $30,000 after buying an additional 365 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.