Viking (NYSE:VIK) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised its price target for Viking stock from $55.00 to $59.00, indicating a potential downside of 3.48% from the current price with a "hold" rating.
• Analysts remain largely optimistic about Viking, with Barclays and Bank of America also increasing their price targets, while the average consensus price stands at $59.21.
• The company's recent quarterly earnings showed a slight miss with $0.99 EPS, but reported revenue growth of 18.5% year-over-year, amounting to $1.88 billion.

Viking (NYSE:VIK - Free Report) had its price objective upped by Truist Financial from $55.00 to $59.00 in a research report released on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other equities analysts have also recently commented on VIK. Stifel Nicolaus lifted their price target on shares of Viking from $50.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Morgan Stanley raised their price objective on shares of Viking from $62.00 to $66.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Wall Street Zen downgraded Viking from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Barclays increased their price target on Viking from $55.00 to $61.00 and gave the stock an "equal weight" rating in a report on Thursday, August 28th. Finally, Bank of America increased their price target on Viking from $51.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Viking currently has an average rating of "Moderate Buy" and an average target price of $59.21.

Viking Trading Down 1.3%

Shares of NYSE:VIK traded down $0.80 during trading on Friday, hitting $61.85. The company had a trading volume of 496,472 shares, compared to its average volume of 3,050,998. The company has a fifty day simple moving average of $60.26 and a two-hundred day simple moving average of $50.11. Viking has a one year low of $31.79 and a one year high of $65.37. The stock has a market cap of $27.41 billion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 0.73 and a beta of 2.40. The company has a debt-to-equity ratio of 19.33, a current ratio of 0.64 and a quick ratio of 0.62.

Viking (NYSE:VIK - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.01). Viking had a net margin of 13.99% and a negative return on equity of 374.71%. The company had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the company posted $0.89 EPS. The business's quarterly revenue was up 18.5% on a year-over-year basis. As a group, equities analysts forecast that Viking will post 1.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VIK. Osaic Holdings Inc. grew its holdings in shares of Viking by 62.4% during the second quarter. Osaic Holdings Inc. now owns 32,144 shares of the company's stock valued at $1,713,000 after buying an additional 12,347 shares during the last quarter. Hohimer Wealth Management LLC acquired a new stake in Viking during the 2nd quarter worth about $768,000. Campbell Capital Management Inc. acquired a new stake in Viking during the 2nd quarter worth about $1,332,000. Headlands Technologies LLC acquired a new stake in Viking during the 2nd quarter worth about $390,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Viking by 80.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,219 shares of the company's stock worth $118,000 after purchasing an additional 986 shares during the last quarter. 98.84% of the stock is currently 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.