Morgan Stanley Cuts Viking (NYSE:VIK) Price Target to $49.00

Viking (NYSE:VIK) had its target price lowered by investment analysts at Morgan Stanley from $53.00 to $49.00 in a report issued on Friday, Marketbeat.com reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 22.18% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Loop Capital assumed coverage on shares of Viking in a research report on Tuesday, February 4th. They issued a “buy” rating and a $55.00 price objective for the company. Citigroup assumed coverage on shares of Viking in a research report on Thursday, December 19th. They issued a “buy” rating and a $54.00 price objective for the company. Truist Financial upped their price objective on shares of Viking from $49.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, March 14th. The Goldman Sachs Group assumed coverage on shares of Viking in a research report on Wednesday, January 22nd. They issued a “neutral” rating and a $49.00 price objective for the company. Finally, Barclays set a $46.00 price objective on shares of Viking and gave the company an “equal weight” rating in a research report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.33.

Viking Stock Performance

Shares of Viking stock opened at $40.11 on Friday. The firm has a fifty day moving average of $47.22 and a two-hundred day moving average of $43.00. The stock has a market capitalization of $17.30 billion and a price-to-earnings ratio of 154.25. Viking has a 52 week low of $25.71 and a 52 week high of $53.14.

Viking (NYSE:VIK) last issued its earnings results on Tuesday, March 11th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, research analysts forecast that Viking will post 1.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Viking

A number of large investors have recently modified their holdings of VIK. Norges Bank acquired a new position in shares of Viking during the 4th quarter worth about $245,038,000. Select Equity Group L.P. boosted its stake in shares of Viking by 26.9% during the 4th quarter. Select Equity Group L.P. now owns 17,279,911 shares of the company’s stock worth $761,353,000 after buying an additional 3,658,225 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Viking by 26.0% during the 4th quarter. Capital Research Global Investors now owns 12,086,045 shares of the company’s stock worth $532,511,000 after buying an additional 2,492,724 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Viking by 4,840.2% during the 4th quarter. Two Sigma Advisers LP now owns 2,321,900 shares of the company’s stock worth $102,303,000 after buying an additional 2,274,900 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Viking by 1,972.0% during the 4th quarter. Two Sigma Investments LP now owns 2,385,193 shares of the company’s stock worth $105,092,000 after buying an additional 2,270,075 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

About Viking

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.