Victory Capital (NASDAQ:VCTR) Rating Increased to Equal Weight at Morgan Stanley

Victory Capital (NASDAQ:VCTR) was upgraded by investment analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm presently has a $60.00 price target on the stock, up from their prior price target of $40.00. Morgan Stanley’s target price would indicate a potential downside of 1.99% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Barclays began coverage on Victory Capital in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $58.00 price target on the stock. Bank of America increased their target price on shares of Victory Capital from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, August 12th. BMO Capital Markets lifted their price target on shares of Victory Capital from $61.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group reduced their price objective on Victory Capital from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their target price on Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Victory Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Victory Capital Trading Up 1.1 %

Shares of VCTR stock opened at $61.22 on Friday. Victory Capital has a 1 year low of $28.66 and a 1 year high of $61.68. The firm has a market capitalization of $3.96 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 0.62 and a beta of 0.91. The stock has a fifty day moving average of $54.43 and a two-hundred day moving average of $51.13. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.91 and a current ratio of 0.91.

Victory Capital (NASDAQ:VCTR) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.30 earnings per share for the quarter, topping 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 company had revenue of $219.62 million during the quarter, compared to analyst estimates of $220.82 million. As a group, research analysts expect that Victory Capital will post 5.19 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its holdings in shares of Victory Capital by 426.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 589,710 shares of the company’s stock valued at $20,310,000 after acquiring an additional 477,798 shares in the last quarter. Vanguard Group Inc. increased its holdings in Victory Capital by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 3,212,173 shares of the company’s stock worth $110,627,000 after buying an additional 104,746 shares during the last quarter. Quadrature Capital Ltd bought a new position in Victory Capital during the fourth quarter valued at approximately $688,000. Annex Advisory Services LLC acquired a new stake in Victory Capital in the first quarter valued at approximately $555,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in Victory Capital in the first quarter worth approximately $298,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Victory Capital Company Profile

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.