Wells Fargo & Company Forecasts Strong Price Appreciation for Viking (NYSE:VIK) Stock

Viking (NYSE:VIK) had its price objective raised by analysts at Wells Fargo & Company from $62.00 to $77.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 2.81% from the stock’s current price.

VIK has been the topic of a number of other research reports. UBS Group boosted their target price on shares of Viking from $69.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Wall Street Zen lowered Viking from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Bank of America raised their target price on Viking from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Morgan Stanley upped their price target on Viking from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Viking in a research report on Monday, December 29th. Eleven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Viking Stock Performance

Shares of VIK traded up $0.05 during trading hours on Thursday, hitting $79.23. The company’s stock had a trading volume of 772,733 shares, compared to its average volume of 2,334,446. The business has a 50 day simple moving average of $73.30 and a two-hundred day simple moving average of $66.02. Viking has a 52-week low of $31.79 and a 52-week high of $81.48. The company has a debt-to-equity ratio of 5.68, a current ratio of 0.63 and a quick ratio of 0.61. The company has a market cap of $35.11 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 0.67 and a beta of 2.07.

Institutional Investors Weigh In On Viking

A number of institutional investors and hedge funds have recently bought and sold shares of VIK. NewEdge Advisors LLC grew its stake in Viking by 92.0% in the 1st quarter. NewEdge Advisors LLC now owns 1,440 shares of the company’s stock worth $57,000 after buying an additional 690 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Viking by 14.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 44,847 shares of the company’s stock worth $2,390,000 after acquiring an additional 5,647 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Viking by 6.4% in the second quarter. Envestnet Asset Management Inc. now owns 29,179 shares of the company’s stock worth $1,555,000 after acquiring an additional 1,766 shares in the last quarter. Spire Wealth Management purchased a new position in Viking in the second quarter worth $789,000. Finally, Amalgamated Bank bought a new position in Viking in the second quarter valued at $815,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

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.