Bank of America Forecasts Strong Price Appreciation for Viking (NYSE:VIK) Stock

Viking (NYSE:VIK) had its target price upped by research analysts at Bank of America from $70.00 to $80.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 9.75% from the company’s previous close.

Other analysts have also issued reports about the company. Mizuho set a $59.00 price target on Viking in a research note on Wednesday, November 19th. Wall Street Zen lowered shares of Viking from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Citigroup raised their target price on shares of Viking from $74.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. JPMorgan Chase & Co. upped their price target on shares of Viking from $73.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viking in a research note on Monday, December 29th. Eleven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

Viking Trading Up 1.3%

VIK stock traded up $0.94 during midday trading on Monday, hitting $72.89. The stock had a trading volume of 1,551,820 shares, compared to its average volume of 1,854,079. The firm has a market cap of $32.30 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 0.63 and a beta of 2.07. The company has a debt-to-equity ratio of 5.68, a current ratio of 0.63 and a quick ratio of 0.61. Viking has a 12-month low of $31.79 and a 12-month high of $74.61. The company’s 50-day moving average price is $66.92 and its 200 day moving average price is $62.15.

Viking (NYSE:VIK) last issued its quarterly earnings results on Wednesday, November 19th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Viking had a return on equity of 716.92% and a net margin of 15.53%.The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the company posted $0.89 EPS. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. On average, equities research analysts predict that Viking will post 1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of VIK. Legacy Wealth Asset Management LLC increased its position in shares of Viking by 3.3% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 5,780 shares of the company’s stock worth $413,000 after acquiring an additional 187 shares in the last quarter. SG Americas Securities LLC boosted its position in Viking by 352.7% during the 4th quarter. SG Americas Securities LLC now owns 213,081 shares of the company’s stock worth $15,216,000 after purchasing an additional 166,007 shares during the period. True Wealth Design LLC acquired a new stake in Viking in the 4th quarter valued at $42,000. Wealth Enhancement Advisory Services LLC purchased a new position in Viking in the fourth quarter valued at about $3,645,000. Finally, NorthCrest Asset Manangement LLC acquired a new position in shares of Viking during the fourth quarter worth about $654,000. 98.84% of the stock is owned by institutional investors and hedge funds.

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.