Virtus Investment Partners Receives Neutral Rating from Bank of America (VRTS)
The analysts wrote, “Virtus reported adjusted EPS of $2.77 (excluding closed end fund launch costs of $0.67, but including $0.16 in other items) above consensus and our estimate of $2.58, driven by higher than expected non-op gains partially offset by several non-recurring expense items. Revenue growth was strong as expected, net flows turned positive, and mgmt. resumed buybacks. Overall a solid quarter, and, in our view, the outlook at VRTS is healthy, given AUM growth, improving flows, and an upward trending fee rate and margin, though at current valuation we maintain our Neutral rating.”
Shares of Virtus Investment Partners (NASDAQ:VRTS) traded up 0.81% during mid-day trading on Tuesday, hitting $210.285. The stock had a trading volume of 74,139 shares. Virtus Investment Partners has a 1-year low of $152.61 and a 1-year high of $223.93. The stock’s 50-day moving average is $208.9 and its 200-day moving average is $189.5. The company has a market cap of $1.927 billion and a P/E ratio of 21.96.
Virtus Investment Partners (NASDAQ:VRTS) last released its earnings data on Monday, July 28th. The company reported $2.10 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $1.91 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. On average, analysts predict that Virtus Investment Partners will post $10.78 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, analysts at Raymond James raised their price target on shares of Virtus Investment Partners from $220.00 to $245.00 in a research note on Thursday, July 3rd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus 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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