Victory Capital (NASDAQ:VCTR) Price Target Raised to $61.00

Victory Capital (NASDAQ:VCTR) had its price target increased by Royal Bank of Canada from $55.00 to $61.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 4.76% from the company’s previous close.

VCTR has been the topic of a number of other research reports. Morgan Stanley raised their target price on shares of Victory Capital from $39.00 to $40.00 and gave the company an “underweight” rating in a research note on Tuesday, August 13th. UBS Group dropped their price target on shares of Victory Capital from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. The Goldman Sachs Group lifted their price target on shares of Victory Capital from $59.50 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Bank of America lifted their price target on shares of Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Barclays began coverage on shares of Victory Capital in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $58.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $54.44.

Victory Capital Stock Performance

Shares of VCTR stock opened at $58.23 on Friday. The company’s fifty day simple moving average is $53.07 and its 200-day simple moving average is $50.57. Victory Capital has a 52 week low of $28.66 and a 52 week high of $58.58. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.87. The company has a market cap of $3.78 billion, a PE ratio of 16.40, a P/E/G ratio of 0.61 and a beta of 0.91.

Victory Capital (NASDAQ:VCTR) last issued its earnings results on Thursday, August 8th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Victory Capital had a net margin of 27.87% and a return on equity of 29.74%. The business had revenue of $219.62 million for the quarter, compared to the consensus estimate of $220.82 million. As a group, equities research analysts anticipate that Victory Capital will post 5.19 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VCTR. CWM LLC boosted its holdings in shares of Victory Capital by 486.2% in the 2nd quarter. CWM LLC now owns 680 shares of the company’s stock valued at $32,000 after buying an additional 564 shares during the period. Contravisory Investment Management Inc. boosted its holdings in shares of Victory Capital by 53.2% in the 3rd quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock valued at $32,000 after buying an additional 199 shares during the period. USA Financial Formulas boosted its holdings in shares of Victory Capital by 157.9% in the 3rd quarter. USA Financial Formulas now owns 1,104 shares of the company’s stock valued at $61,000 after buying an additional 676 shares during the period. Amalgamated Bank boosted its holdings in shares of Victory Capital by 50.7% in the 2nd quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock valued at $68,000 after buying an additional 479 shares during the period. Finally, nVerses Capital LLC boosted its holdings in shares of Victory Capital by 200.0% in the 2nd quarter. nVerses Capital LLC now owns 2,700 shares of the company’s stock valued at $129,000 after buying an additional 1,800 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

About Victory Capital

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.