Morgan Stanley Increases Victory Capital (NASDAQ:VCTR) Price Target to $32.00

Victory Capital (NASDAQ:VCTR) had its price target lifted by investment analysts at Morgan Stanley from $30.00 to $32.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 30.28% from the company’s previous close.

Several other research firms have also issued reports on VCTR. BMO Capital Markets raised their price target on shares of Victory Capital from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group raised their price objective on shares of Victory Capital from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Royal Bank of Canada raised their price objective on shares of Victory Capital from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. Finally, B. Riley reaffirmed a “buy” rating and set a $48.00 price objective (up from $40.00) on shares of Victory Capital in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $42.43.

Victory Capital Stock Performance

NASDAQ:VCTR opened at $45.90 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $2.95 billion, a PE ratio of 14.66, a PEG ratio of 0.56 and a beta of 1.00. The firm’s fifty day simple moving average is $40.29 and its 200 day simple moving average is $35.32. Victory Capital has a 1 year low of $27.73 and a 1 year high of $45.91.

Victory Capital (NASDAQ:VCTR) last posted its quarterly earnings results on Friday, February 9th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.02. The company had revenue of $205.80 million for the quarter, compared to analyst estimates of $204.20 million. Victory Capital had a net margin of 25.96% and a return on equity of 28.70%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. On average, sell-side analysts anticipate that Victory Capital will post 5.02 EPS for the current year.

Hedge Funds Weigh In On Victory Capital

A number of large investors have recently modified their holdings of VCTR. BlackRock Inc. raised its position in Victory Capital by 77.3% in the 1st quarter. BlackRock Inc. now owns 2,471,393 shares of the company’s stock worth $72,338,000 after purchasing an additional 1,077,162 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Victory Capital by 110.6% in the 1st quarter. Vanguard Group Inc. now owns 1,564,346 shares of the company’s stock valued at $45,162,000 after purchasing an additional 821,522 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Victory Capital by 126.8% during the 3rd quarter. Corient Private Wealth LLC now owns 1,046,684 shares of the company’s stock worth $34,896,000 after buying an additional 585,225 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Victory Capital by 426.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 589,710 shares of the company’s stock worth $20,310,000 after buying an additional 477,798 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Victory Capital by 82.1% in the first quarter. Dimensional Fund Advisors LP now owns 748,029 shares of the company’s stock valued at $21,894,000 after buying an additional 337,185 shares during the period. 87.71% of the stock is currently 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.