Truist Financial Issues Positive Forecast for Viking (NYSE:VIK) Stock Price

Viking (NYSE:VIK) had its price objective increased by Truist Financial from $50.00 to $55.00 in a research report report published on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

VIK has been the subject of several other research reports. BNP Paribas started coverage on Viking in a research report on Thursday, March 27th. They issued an “outperform” rating and a $47.00 target price for the company. Melius Research set a $51.00 price target on shares of Viking in a research report on Monday, April 21st. Morgan Stanley decreased their price target on shares of Viking from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Citigroup increased their price objective on shares of Viking from $57.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Finally, Jefferies Financial Group lifted their target price on Viking from $45.00 to $52.00 and gave the company a “hold” rating in a research note on Monday, July 7th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.07.

Viking Stock Performance

Viking stock opened at $57.94 on Monday. The stock has a fifty day moving average of $49.83 and a 200 day moving average of $46.13. Viking has a one year low of $30.56 and a one year high of $58.70. The stock has a market cap of $25.68 billion, a PE ratio of 47.11, a price-to-earnings-growth ratio of 0.71 and a beta of 2.38.

Viking (NYSE:VIK) last announced its quarterly earnings data on Tuesday, May 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.02. The firm had revenue of $897.06 million during the quarter, compared to analysts’ expectations of $841.18 million. Viking had a net margin of 9.60% and a negative return on equity of 128.44%. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.21) earnings per share. As a group, sell-side analysts predict that Viking will post 1.49 EPS for the current fiscal year.

Institutional Trading of Viking

A number of hedge funds have recently added to or reduced their stakes in VIK. Costello Asset Management INC acquired a new position in shares of Viking in the first quarter worth about $33,000. Harbour Investments Inc. lifted its stake in shares of Viking by 37.2% in the first quarter. Harbour Investments Inc. now owns 1,277 shares of the company’s stock worth $51,000 after acquiring an additional 346 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Viking by 92.0% in the first quarter. NewEdge Advisors LLC now owns 1,440 shares of the company’s stock worth $57,000 after acquiring an additional 690 shares in the last quarter. Quarry LP acquired a new position in shares of Viking in the fourth quarter worth about $66,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Viking by 4,400.0% in the second quarter. Farther Finance Advisors LLC now owns 2,250 shares of the company’s stock worth $120,000 after acquiring an additional 2,200 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

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.