Viking (NYSE:VIK) Stock Price Down 6.1% – Here’s Why

Viking Holdings Ltd (NYSE:VIK) shares were down 6.1% on Tuesday . The stock traded as low as $39.62 and last traded at $39.51. Approximately 3,415,581 shares traded hands during mid-day trading, an increase of 44% from the average daily volume of 2,372,269 shares. The stock had previously closed at $42.07.

Analyst Upgrades and Downgrades

VIK has been the subject of several research analyst reports. Loop Capital started coverage on shares of Viking in a report on Tuesday, February 4th. They issued a “buy” rating and a $55.00 price target for the company. Stifel Nicolaus boosted their target price on Viking from $39.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Truist Financial raised their price target on Viking from $49.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on Viking from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Barclays set a $46.00 price objective on shares of Viking and gave the stock an “equal weight” rating in a research report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Viking currently has an average rating of “Moderate Buy” and an average price target of $46.33.

Viking Stock Down 6.6 %

The firm has a fifty day moving average of $47.48 and a 200-day moving average of $42.89. The firm has a market cap of $16.95 billion and a P/E ratio of 151.15.

Viking (NYSE:VIK) last released its quarterly earnings data on Tuesday, March 11th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Viking’s revenue was up 20.5% on a year-over-year basis. On average, equities analysts forecast that Viking Holdings Ltd will post 1.49 EPS for the current year.

Institutional Investors Weigh In On Viking

A number of institutional investors and hedge funds have recently modified their holdings of the company. Orion Capital Management LLC bought a new position in Viking during the fourth quarter worth about $110,000. PharVision Advisers LLC acquired a new position in shares of Viking during the 4th quarter worth approximately $281,000. Voloridge Investment Management LLC bought a new stake in Viking in the 4th quarter valued at $59,226,000. Squarepoint Ops LLC lifted its holdings in Viking by 8.5% during the 4th quarter. Squarepoint Ops LLC now owns 163,856 shares of the company’s stock valued at $7,219,000 after purchasing an additional 12,856 shares during the last quarter. Finally, Twinbeech Capital LP bought a new position in Viking during the fourth quarter worth $363,000. 98.84% of the stock is owned by institutional investors.

About Viking

Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships.