Viking (NYSE:VIK) Sets New 12-Month High – Here’s Why

Viking Holdings Ltd (NYSE:VIK)’s share price reached a new 52-week high on Monday . The stock traded as high as $44.29 and last traded at $44.29, with a volume of 3657 shares. The stock had previously closed at $43.62.

Analysts Set New Price Targets

VIK has been the topic of several recent research reports. Morgan Stanley upgraded Viking from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $37.00 to $49.00 in a research report on Tuesday. Wells Fargo & Company raised their price target on shares of Viking from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Stifel Nicolaus boosted their price objective on shares of Viking from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. lifted their target price on shares of Viking from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Barclays increased their price target on Viking from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.67.

Viking Stock Performance

The stock has a 50-day moving average of $37.00.

Viking (NYSE:VIK) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. As a group, research analysts anticipate that Viking Holdings Ltd will post 1.13 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Avior Wealth Management LLC purchased a new position in Viking in the 3rd quarter worth approximately $27,000. Valley Wealth Managers Inc. acquired a new position in Viking in the 2nd quarter worth $35,000. American National Bank purchased a new position in Viking in the 2nd quarter valued at about $68,000. Sunbelt Securities Inc. acquired a new stake in shares of Viking during the second quarter valued at about $68,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Viking during the third quarter worth about $181,000.

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.