The Goldman Sachs Group Raises Victory Capital (NASDAQ:VCTR) Price Target to $60.00

Victory Capital (NASDAQ:VCTR) had its price objective increased by investment analysts at The Goldman Sachs Group from $59.50 to $60.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 6.61% from the stock’s current price.

Several other research analysts have also issued reports on the stock. Morgan Stanley upped their target price on shares of Victory Capital from $39.00 to $40.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 13th. Royal Bank of Canada cut their price objective on Victory Capital from $56.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Barclays assumed coverage on Victory Capital in a report on Tuesday, August 27th. They set an “equal weight” rating and a $58.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, UBS Group decreased their price target on shares of Victory Capital from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Victory Capital presently has a consensus rating of “Hold” and a consensus target price of $53.78.

Victory Capital Price Performance

Shares of NASDAQ:VCTR traded up $0.60 on Thursday, hitting $56.28. The company’s stock had a trading volume of 81,629 shares, compared to its average volume of 390,932. The company has a market capitalization of $3.64 billion, a PE ratio of 17.31, a PEG ratio of 0.61 and a beta of 0.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.91 and a quick ratio of 0.91. The company has a 50-day simple moving average of $52.27 and a 200 day simple moving average of $49.79. Victory Capital has a 1 year low of $28.66 and a 1 year high of $56.91.

Victory Capital (NASDAQ:VCTR) last announced its earnings results on Thursday, August 8th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Victory Capital had a net margin of 27.87% and a return on equity of 29.74%. The business had revenue of $219.62 million for the quarter, compared to the consensus estimate of $220.82 million. Sell-side analysts forecast that Victory Capital will post 5.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Victory Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VCTR. CWM LLC raised its holdings in Victory Capital by 486.2% during the second quarter. CWM LLC now owns 680 shares of the company’s stock valued at $32,000 after acquiring an additional 564 shares during the period. Amalgamated Bank raised its stake in Victory Capital by 50.7% during the 2nd quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock valued at $68,000 after purchasing an additional 479 shares during the period. nVerses Capital LLC lifted its holdings in Victory Capital by 200.0% in the 2nd quarter. nVerses Capital LLC now owns 2,700 shares of the company’s stock worth $129,000 after purchasing an additional 1,800 shares in the last quarter. Picton Mahoney Asset Management bought a new position in Victory Capital in the 2nd quarter worth approximately $156,000. Finally, Rothschild Investment LLC purchased a new stake in Victory Capital during the 2nd quarter valued at approximately $202,000. Institutional investors own 87.71% of the company’s stock.

About Victory Capital

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.