Morgan Stanley Increases Victory Capital (NASDAQ:VCTR) Price Target to $85.00

Victory Capital (NASDAQ:VCTR) had its price objective hoisted by Morgan Stanley from $76.00 to $85.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 1.77% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Victory Capital in a report on Monday, April 20th. Barclays boosted their price target on shares of Victory Capital from $74.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of Victory Capital from $72.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Victory Capital from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Victory Capital in a research note on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $86.00.

Victory Capital Trading Up 1.7%

VCTR opened at $83.52 on Friday. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 0.89 and a beta of 1.10. The company’s 50 day simple moving average is $83.19 and its two-hundred day simple moving average is $73.40. Victory Capital has a 1-year low of $57.03 and a 1-year high of $90.19. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.13 and a quick ratio of 1.13.

Victory Capital (NASDAQ:VCTR) last posted 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. Victory Capital had a return on equity of 22.15% and a net margin of 25.79%.The firm had revenue of $387.99 million during the quarter, compared to analysts’ expectations of $364.97 million. During the same quarter last year, the firm earned $1.36 earnings per share. The business’s revenue for the quarter was up 76.7% on a year-over-year basis. Analysts expect that Victory Capital will post 7.04 EPS for the current fiscal year.

Institutional Trading of Victory Capital

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

About Victory Capital

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.