Truist Financial Boosts Viking (NYSE:VIK) Price Target to $75.00

Viking (NYSE:VIK) had its price target raised by research analysts at Truist Financial from $61.00 to $75.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target would suggest a potential upside of 3.49% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. UBS Group upped their target price on Viking from $79.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Citigroup upped their price objective on Viking from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Bank of America raised their price objective on Viking from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Morgan Stanley boosted their target price on Viking from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Finally, Barclays increased their target price on shares of Viking from $63.00 to $77.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 4th. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.33.

Viking Price Performance

VIK stock traded up $0.60 during midday trading on Tuesday, reaching $72.47. The company had a trading volume of 744,443 shares, compared to its average volume of 2,543,663. Viking has a 1-year low of $31.79 and a 1-year high of $81.48. The stock has a 50 day moving average price of $73.23 and a 200-day moving average price of $67.51. The company has a debt-to-equity ratio of 4.76, a current ratio of 0.79 and a quick ratio of 0.77. The company has a market capitalization of $32.30 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 1.25 and a beta of 1.96.

Viking (NYSE:VIK) last issued its earnings results on Tuesday, March 3rd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.54 by $0.13. Viking had a net margin of 17.65% and a return on equity of 240.75%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the company earned $0.45 EPS. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities research analysts expect that Viking will post 1.49 earnings per share for the current year.

Institutional Investors Weigh In On Viking

Institutional investors have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd bought a new stake in shares of Viking in the 3rd quarter valued at $989,000. Congress Asset Management Co. acquired a new position in Viking in the third quarter valued at $65,041,000. Merit Financial Group LLC boosted its position in Viking by 42.6% during the third quarter. Merit Financial Group LLC now owns 27,635 shares of the company’s stock valued at $1,718,000 after acquiring an additional 8,256 shares during the last quarter. Diversified Trust Co bought a new stake in Viking during the third quarter valued at $1,258,000. Finally, JPMorgan Chase & Co. raised its position in shares of Viking by 74.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,467,311 shares of the company’s stock worth $78,193,000 after acquiring an additional 626,973 shares in the last quarter. Institutional investors 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.