Royal Bank of Canada Boosts Victory Capital (NASDAQ:VCTR) Price Target to $61.00

Victory Capital (NASDAQ:VCTR) had its target price hoisted by equities research analysts at Royal Bank of Canada from $55.00 to $61.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 4.99% from the stock’s current price.

Several other equities analysts also recently commented on VCTR. UBS Group dropped their price target on shares of Victory Capital from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Bank of America boosted their target price 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. 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 target price for the company. Morgan Stanley boosted their target price on shares of Victory Capital from $39.00 to $40.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Victory Capital currently has an average rating of “Hold” and a consensus target price of $54.44.

Victory Capital Trading Up 1.4 %

Shares of VCTR stock traded up $0.80 during trading on Friday, hitting $58.10. 62,867 shares of the stock traded hands, compared to its average volume of 386,591. The firm has a market capitalization of $3.77 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 0.61 and a beta of 0.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.91 and a quick ratio of 0.91. The firm’s fifty day moving average price is $52.85 and its 200-day moving average price is $50.39. Victory Capital has a 52-week low of $28.66 and a 52-week high of $58.58.

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

Hedge Funds Weigh In On Victory Capital

Hedge funds have recently made changes to their positions in the stock. Capital World Investors lifted its holdings in shares of Victory Capital by 85.8% during the 1st quarter. Capital World Investors now owns 2,221,954 shares of the company’s stock valued at $94,278,000 after acquiring an additional 1,025,954 shares in the last quarter. Swedbank AB acquired a new position in shares of Victory Capital during the 1st quarter valued at $29,701,000. Vanguard Group Inc. lifted its holdings in shares of Victory Capital by 16.4% during the 1st quarter. Vanguard Group Inc. now owns 3,739,363 shares of the company’s stock valued at $158,661,000 after acquiring an additional 527,190 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Victory Capital by 426.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 589,710 shares of the company’s stock valued at $20,310,000 after acquiring an additional 477,798 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its holdings in shares of Victory Capital by 35.0% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,110,948 shares of the company’s stock valued at $47,138,000 after acquiring an additional 288,280 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Victory Capital Company Profile

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.