Raymond James Reiterates Outperform Rating for Virtus Investment Partners (VRTS)
Virtus Investment Partners (NASDAQ:VRTS)‘s stock had its “outperform” rating restated by investment analysts at Raymond James in a note issued to investors on Tuesday. They currently have a $235.00 target price on the stock, down from their previous target price of $245.00. Raymond James’ price target would indicate a potential upside of 11.41% from the company’s current price.
Virtus Investment Partners (NASDAQ:VRTS) traded up 0.81% on Tuesday, hitting $210.285. 74,139 shares of the company’s stock traded hands. Virtus Investment Partners has a one year low of $152.61 and a one year high of $223.93. The stock has a 50-day moving average of $208.9 and a 200-day moving average of $189.5. The company has a market cap of $1.927 billion and a price-to-earnings ratio of 21.96.
Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Monday, July 28th. The company reported $2.10 earnings per share for the quarter, missing the analysts’ consensus estimate of $2.57 by $0.47. The company had revenue of $112.70 million for the quarter, compared to the consensus estimate of $113.53 million. During the same quarter last year, the company posted $1.91 earnings per share. Virtus Investment Partners’s revenue was up 17.3% compared to the same quarter last year. On average, analysts predict that Virtus Investment Partners will post $10.78 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on VRTS. Analysts at Bank of America reiterated a “neutral” rating on shares of Virtus Investment Partners in a research note on Tuesday. Separately, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Virtus Investment Partners in a research note on Tuesday. They now have a $234.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Virtus Investment Partners in a research note on Wednesday, July 9th. They now have a $212.00 price target on the stock, up previously from $185.00. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $217.83.
Virtus Investment Partners, Inc (NASDAQ:VRTS) is a provider of investment management products and services to individuals and institutions.
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