Morgan Stanley Increases Virtus Investment Partners Price Target to $213.00 (VRTS)
Equities research analysts at Morgan Stanley hoisted their price target on shares of Virtus Investment Partners (NASDAQ:VRTS) to $213.00 in a research note issued to investors on Monday. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 4.56% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Raymond James upgraded shares of Virtus Investment Partners from a “market perform” rating to an “outperform” rating in a research note on Monday, May 5th. They now have a $220.00 price target on the stock. Analysts at Jefferies Group cut their price target on shares of Virtus Investment Partners to $185.00 in a research note on Tuesday, April 8th. They now have a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $203.68.
Shares of Virtus Investment Partners (NASDAQ:VRTS) traded down 0.62% during mid-day trading on Monday, hitting $202.45. 8,751 shares of the company’s stock traded hands. Virtus Investment Partners has a 1-year low of $152.61 and a 1-year high of $240.72. The stock’s 50-day moving average is $186.2 and its 200-day moving average is $188.1. The company has a market cap of $1.855 billion and a price-to-earnings ratio of 21.44.
Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.34 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.37 by $0.03. Analysts expect that Virtus Investment Partners will post $10.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Tuesday, July 29th.
Virtus Investment Partners, Inc (NASDAQ:VRTS) is a provider of investment management products and services to individuals and institutions.
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