Zacks Investment Research Upgrades Viad Corp. (VVI) to Strong-Buy
Viad Corp. (NYSE:VVI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday. The firm currently has a $43.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 16.63% from the stock’s previous close.
According to Zacks, “Viad Corp. is comprised of operating companies and a division which constitute a diversified services business. Most of Viad’s services are provided to businesses for use by their customers. Accordingly, the corporation markets its services through retail and financial locations, primarily in the U.S., to numerous trade show organizers and exhibitors, and others. “
Separately, B. Riley restated a “buy” rating and issued a $42.00 target price on shares of Viad Corp. in a research note on Wednesday, August 17th.
Viad Corp. (NYSE:VVI) opened at 36.87 on Thursday. The firm has a market capitalization of $747.91 million, a price-to-earnings ratio of 39.82 and a beta of 1.07. The company has a 50 day moving average price of $36.22 and a 200-day moving average price of $32.34. Viad Corp. has a 1-year low of $25.90 and a 1-year high of $37.85.
Viad Corp. (NYSE:VVI) last announced its earnings results on Thursday, July 28th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.22. The business had revenue of $324.70 million for the quarter, compared to analyst estimates of $304.90 million. Viad Corp. had a return on equity of 6.77% and a net margin of 1.75%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.18 EPS. On average, analysts forecast that Viad Corp. will post $2.28 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.40 dividend on an annualized basis and a yield of 1.08%. Viad Corp.’s dividend payout ratio is currently 43.48%.
In other news, Director Robert E. Munzenrider sold 2,000 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $35.87, for a total transaction of $71,740.00. Following the transaction, the director now directly owns 22,106 shares in the company, valued at approximately $792,942.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Loomis Sayles & Co. L P raised its position in shares of Viad Corp. by 19.1% in the first quarter. Loomis Sayles & Co. L P now owns 425,032 shares of the company’s stock valued at $12,394,000 after buying an additional 68,289 shares during the period. BlackRock Group LTD raised its position in shares of Viad Corp. by 7.1% in the first quarter. BlackRock Group LTD now owns 29,360 shares of the company’s stock valued at $857,000 after buying an additional 1,956 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Viad Corp. by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 532,623 shares of the company’s stock valued at $15,531,000 after buying an additional 3,538 shares during the period. HBK Investments L P raised its position in shares of Viad Corp. by 24.4% in the first quarter. HBK Investments L P now owns 42,310 shares of the company’s stock valued at $1,234,000 after buying an additional 8,310 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Viad Corp. by 5.0% in the first quarter. Geode Capital Management LLC now owns 131,411 shares of the company’s stock valued at $3,831,000 after buying an additional 6,199 shares during the period. Hedge funds and other institutional investors own 88.32% of the company’s stock.
About Viad Corp.
Viad Corp is an international experiential services company. The Company has operations in the United States, Canada, the United Kingdom, continental Europe and the United Arab Emirates. The Company conducts its operations through three business segments: the Marketing & Events U.S. Segment (U.S. Segment), the Marketing & Events International Segment (the International Segment) (collectively, the Marketing & Events Group), and the Travel & Recreation Group.
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