Morgan Stanley Has Lowered Expectations for Viking (NYSE:VIK) Stock Price

Viking (NYSE:VIK) had its price objective cut by research analysts at Morgan Stanley from $53.00 to $49.00 in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 25.82% from the stock’s previous close.

Several other analysts also recently weighed in on VIK. Barclays set a $46.00 target price on shares of Viking and gave the company an “equal weight” rating in a report on Wednesday, March 12th. Truist Financial lifted their price objective on shares of Viking from $49.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, March 14th. Citigroup initiated coverage on shares of Viking in a research report on Thursday, December 19th. They set a “buy” rating and a $54.00 price objective for the company. UBS Group lifted their price objective on shares of Viking from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Viking from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.33.

Viking Stock Performance

Shares of NYSE:VIK traded down $1.03 during trading on Friday, reaching $38.94. The stock had a trading volume of 3,777,779 shares, compared to its average volume of 2,415,062. The business has a fifty day moving average price of $47.29 and a 200-day moving average price of $42.88. The stock has a market cap of $16.80 billion and a PE ratio of 149.56. Viking has a 1-year low of $25.71 and a 1-year high of $53.14.

Viking (NYSE:VIK) last released its earnings results on Tuesday, March 11th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Viking’s revenue for the quarter was up 20.5% on a year-over-year basis. Sell-side analysts expect that Viking will post 1.49 earnings per share for the current year.

Institutional Investors Weigh In On Viking

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in shares of Viking in the 4th quarter worth approximately $110,000. PharVision Advisers LLC acquired a new stake in shares of Viking during the fourth quarter worth $281,000. Voloridge Investment Management LLC acquired a new stake in shares of Viking during the fourth quarter worth $59,226,000. Squarepoint Ops LLC grew its stake in Viking by 8.5% in the fourth quarter. Squarepoint Ops LLC now owns 163,856 shares of the company’s stock valued at $7,219,000 after acquiring an additional 12,856 shares during the period. Finally, Twinbeech Capital LP bought a new stake in shares of Viking in the fourth quarter valued at about $363,000. 98.84% of the stock is 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.