JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Viking (NYSE:VIK) Stock

Viking (NYSE:VIK) had its price objective hoisted by JPMorgan Chase & Co. from $73.00 to $74.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 9.07% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Truist Financial increased their price target on shares of Viking from $59.00 to $61.00 and gave the stock a “hold” rating in a report on Tuesday, December 2nd. Wells Fargo & Company boosted their price target on shares of Viking from $56.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, November 20th. Stifel Nicolaus increased their price objective on Viking from $50.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. The Goldman Sachs Group lifted their price objective on Viking from $64.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, November 20th. Finally, Barclays boosted their target price on Viking from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 20th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Viking presently has a consensus rating of “Moderate Buy” and an average target price of $63.69.

Viking Trading Up 1.7%

Shares of VIK stock opened at $67.85 on Monday. The stock has a market capitalization of $30.06 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 0.77 and a beta of 2.12. The company’s fifty day simple moving average is $61.58 and its two-hundred day simple moving average is $58.20. Viking has a 1 year low of $31.79 and a 1 year high of $68.91. The company has a debt-to-equity ratio of 5.68, a current ratio of 0.63 and a quick ratio of 0.61.

Viking (NYSE:VIK) last announced its quarterly earnings results on Wednesday, November 19th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.01. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Viking had a return on equity of 716.92% and a net margin of 15.53%.The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 earnings per share. As a group, analysts anticipate that Viking will post 1.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its position in Viking by 342.0% during the third quarter. Allworth Financial LP now owns 663 shares of the company’s stock valued at $41,000 after purchasing an additional 513 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Viking by 1,591.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,114 shares of the company’s stock valued at $131,000 after purchasing an additional 1,989 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Viking during the 3rd quarter valued at about $225,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Viking during the 3rd quarter valued at about $686,000. Finally, NewEdge Advisors LLC lifted its position in Viking by 29.2% in the 3rd quarter. NewEdge Advisors LLC now owns 1,990 shares of the company’s stock worth $124,000 after buying an additional 450 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Viking Company Profile

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.