Wells Fargo & Company Issues Positive Forecast for Viking (NYSE:VIK) Stock Price

Key Points

• Wells Fargo raised its Viking price target from $109 to $128 and maintained an “overweight” rating, implying approximately 17% upside from the prior close.
• Analyst sentiment remains broadly positive: Viking has a “Moderate Buy” consensus rating and an average price target of $105.11, with 15 of 19 analysts assigning Buy or Strong Buy ratings.
• Viking reported quarterly revenue of $1.05 billion, ahead of estimates, with revenue up 17.5% year over year. The stock opened at $109.42, its reported 12-month high, while institutional investors own 98.84% of shares.

Viking (NYSE:VIK - Get Free Report) had its price objective increased by stock analysts at Wells Fargo & Company from $109.00 to $128.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 16.98% from the company's previous close.

Other research analysts also recently issued reports about the stock. Susquehanna upped their target price on shares of Viking from $100.00 to $105.00 and gave the company a "positive" rating in a research note on Friday, May 15th. Truist Financial upgraded shares of Viking from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $75.00 to $102.00 in a report on Friday, May 22nd. Barclays upped their price objective on shares of Viking from $88.00 to $93.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 8th. The Goldman Sachs Group raised their target price on Viking from $108.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. lifted their target price on Viking from $87.00 to $104.00 and gave the stock an "overweight" rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $105.11.

Viking Stock Performance

NYSE:VIK opened at $109.42 on Wednesday. The firm's fifty day simple moving average is $98.00 and its 200 day simple moving average is $84.02. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 5.27. Viking has a twelve month low of $55.55 and a twelve month high of $109.42. The firm has a market capitalization of $48.77 billion, a price-to-earnings ratio of 40.68, a PEG ratio of 1.22 and a beta of 1.50.

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

Insider Buying and Selling

In other Viking news, EVP Richard Marnell sold 11,287 shares of the stock in a transaction on 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 $10,868,092.50. This represents a 8.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 17,566 shares of company stock worth $1,640,166.

Institutional Investors Weigh In On Viking

A number of institutional investors have recently modified their holdings of VIK. Norges Bank bought a new stake in Viking in the fourth quarter valued at about $372,297,000. Invesco Ltd. grew its position in shares of Viking by 32.8% in the 3rd quarter. Invesco Ltd. now owns 14,048,357 shares of the company's stock worth $873,246,000 after acquiring an additional 3,471,244 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Viking by 316.8% in the 4th quarter. AQR Capital Management LLC now owns 4,426,297 shares of the company's stock worth $316,082,000 after acquiring an additional 3,364,265 shares in the last quarter. State Street Corp increased its holdings in shares of Viking by 34,748.5% in the 2nd quarter. State Street Corp now owns 1,812,120 shares of the company's stock valued at $96,568,000 after acquiring an additional 1,806,920 shares during the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of Viking during the 4th quarter valued at approximately $113,364,000. Institutional investors and hedge funds own 98.84% of the company's stock.

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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