Sanford C. Bernstein Upgrades Viking (NYSE:VIK) to Strong-Buy

Viking (NYSE:VIK) was upgraded by analysts at Sanford C. Bernstein to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

VIK has been the subject of several other research reports. JPMorgan Chase & Co. boosted their target price on Viking from $87.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Rothschild & Co Redburn set a $95.00 target price on Viking and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Wall Street Zen downgraded Viking from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Morgan Stanley reissued an “equal weight” rating and set a $86.00 target price (up from $81.00) on shares of Viking in a research note on Friday, May 15th. Finally, Wells Fargo & Company raised Viking from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $79.00 to $109.00 in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Viking currently has an average rating of “Moderate Buy” and a consensus target price of $96.38.

Viking Stock Up 1.6%

VIK stock opened at $90.06 on Wednesday. The company has a market cap of $40.14 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 1.28 and a beta of 1.59. The business has a 50-day simple moving average of $81.52 and a 200 day simple moving average of $74.92. Viking has a 52 week low of $46.06 and a 52 week high of $93.70. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 5.27.

Viking (NYSE:VIK) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. Viking had a return on equity of 149.40% and a net margin of 18.00%.Viking’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.24) earnings per share. Sell-side analysts anticipate that Viking will post 3.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jeffrey Dash sold 46,369 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $80.23, for a total value of $3,720,184.87. Following the sale, the executive vice president directly owned 420,022 shares in the company, valued at $33,698,365.06. This represents a 9.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On Viking

Institutional investors and hedge funds have recently modified their holdings of the business. Activest Wealth Management boosted its holdings in shares of Viking by 19,500.0% during the 4th quarter. Activest Wealth Management now owns 392 shares of the company’s stock worth $28,000 after buying an additional 390 shares in the last quarter. Bank of Jackson Hole Trust bought a new position in shares of Viking in the 4th quarter worth $28,000. Cornerstone Planning Group LLC lifted its holdings in shares of Viking by 316.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 416 shares of the company’s stock worth $29,000 after purchasing an additional 316 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Viking by 651.8% in the 4th quarter. SBI Securities Co. Ltd. now owns 421 shares of the company’s stock worth $30,000 after purchasing an additional 365 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Viking in the 3rd quarter valued at $26,000. 98.84% of the stock is currently owned by 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.