Zacks Investment Research Lowers Viad (VVI) to Strong Sell

Viad (NYSE:VVI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Viad Corp is an S&P SmallCap 600 international experiential services company with operations in the United States, Canada, the United Kingdom, continental Europe and the United Arab Emirates. Viad generates its revenue and shareholder value through two main business units: GES, a global full-service live events company serving the world’s leading brands and event organizers and Pursuit, a collection of iconic and cultural destination travel experiences that showcase the best of Banff, Jasper, Glacier, Denali and Kenai Fjords National Parks. Their business strategy focuses on providing exceptional experiential services to their customers and sustainable returns on invested capital to their shareholders. “

Separately, ValuEngine upgraded shares of Viad from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st.

Shares of Viad (NYSE VVI) traded down $0.05 during trading hours on Wednesday, hitting $51.30. 44,151 shares of the company were exchanged, compared to its average volume of 124,725. The company has a current ratio of 0.71, a quick ratio of 0.60 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1,059.36, a price-to-earnings ratio of 18.17 and a beta of 0.51. Viad has a fifty-two week low of $42.05 and a fifty-two week high of $61.85.

Viad (NYSE:VVI) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. The business had revenue of $277.30 million during the quarter, compared to analyst estimates of $266.85 million. Viad had a net margin of 4.42% and a return on equity of 12.73%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. analysts forecast that Viad will post 2.85 earnings per share for the current fiscal year.

In other Viad news, Director Robert E. Munzenrider sold 2,100 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $56.01, for a total transaction of $117,621.00. Following the completion of the sale, the director now owns 21,179 shares in the company, valued at $1,186,235.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in VVI. FMR LLC increased its stake in Viad by 52.3% during the second quarter. FMR LLC now owns 730,850 shares of the business services provider’s stock valued at $34,533,000 after purchasing an additional 250,850 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in Viad by 54.5% during the fourth quarter. TimesSquare Capital Management LLC now owns 626,875 shares of the business services provider’s stock valued at $34,729,000 after purchasing an additional 221,035 shares during the last quarter. BlackRock Inc. increased its stake in Viad by 3.5% during the fourth quarter. BlackRock Inc. now owns 2,595,050 shares of the business services provider’s stock valued at $143,767,000 after purchasing an additional 87,607 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Viad during the fourth quarter valued at $3,006,000. Finally, Vanguard Group Inc. increased its stake in Viad by 4.3% during the second quarter. Vanguard Group Inc. now owns 1,118,705 shares of the business services provider’s stock valued at $52,859,000 after purchasing an additional 46,596 shares during the last quarter. Hedge funds and other institutional investors own 86.10% of the company’s stock.

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About Viad

Viad Corp is an international experiential services company. The Company operates through two main business groups: GES, which is a live event service provider to some of the visible and influential events and global brands, and Pursuit, which is a collection of destination travel experiences. GES conducts its operations through two geographical segments: GES U.S., which has full-service operations in exhibition market in the United States, including Las Vegas, Nevada; Chicago, Illinois; Orlando, Florida; New York, New York, and Los Angeles, California, and GES International, which had full-service operations at many of the event destinations and venues.

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