Morgan Stanley Forecasts Strong Price Appreciation for Victory Capital (NASDAQ:VCTR) Stock

Victory Capital (NASDAQ:VCTR) had its target price lifted by equities research analysts at Morgan Stanley from $76.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 1.77% from the company’s previous close.

Several other brokerages have also recently issued reports on VCTR. JPMorgan Chase & Co. increased their price objective on Victory Capital from $72.00 to $81.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Barclays boosted their target price on Victory Capital from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. The Goldman Sachs Group started coverage on Victory Capital in a report on Tuesday, June 2nd. They set a “neutral” rating and a $90.00 price target on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Victory Capital in a research report on Tuesday, May 12th. Finally, Wall Street Zen upgraded Victory Capital from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Victory Capital currently has an average rating of “Hold” and a consensus price target of $86.00.

Victory Capital Price Performance

Shares of VCTR opened at $83.52 on Friday. Victory Capital has a fifty-two week low of $57.03 and a fifty-two week high of $90.19. The firm’s 50 day moving average price is $83.19 and its 200 day moving average price is $73.40. The company has a market cap of $5.22 billion, a P/E ratio of 18.32, a PEG ratio of 0.89 and a beta of 1.10. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.41.

Victory Capital (NASDAQ:VCTR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.63 by $0.19. The company had revenue of $387.99 million during the quarter, compared to analysts’ expectations of $364.97 million. Victory Capital had a net margin of 25.79% and a return on equity of 22.15%. The firm’s revenue was up 76.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 EPS. On average, research analysts forecast that Victory Capital will post 7.04 earnings per share for the current fiscal year.

Institutional Trading of Victory Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of VCTR. Amundi purchased a new stake in Victory Capital during the 4th quarter worth about $192,735,000. Vanguard Group Inc. raised its position in shares of Victory Capital by 12.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,741,715 shares of the company’s stock worth $307,073,000 after acquiring an additional 515,845 shares in the last quarter. FIL Ltd purchased a new stake in Victory Capital during the fourth quarter worth approximately $26,813,000. Invesco Ltd. boosted its holdings in Victory Capital by 163.6% in the third quarter. Invesco Ltd. now owns 431,912 shares of the company’s stock valued at $27,971,000 after purchasing an additional 268,061 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in Victory Capital by 747.2% in the third quarter. Voloridge Investment Management LLC now owns 299,862 shares of the company’s stock valued at $19,419,000 after purchasing an additional 264,468 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Victory Capital Company Profile

Victory Capital (NASDAQ:VCTR) is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.

Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.