The Goldman Sachs Group Increases Victory Capital (NASDAQ:VCTR) Price Target to $60.00

Victory Capital (NASDAQ:VCTR) had its price target boosted by stock analysts at The Goldman Sachs Group from $59.50 to $60.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 4.20% from the stock’s previous close.

VCTR has been the subject of several other reports. Bank of America increased their price target on Victory Capital from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, August 12th. UBS Group reduced their price target on Victory Capital from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Barclays initiated coverage on Victory Capital in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $58.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, Morgan Stanley upped their price objective on Victory Capital from $39.00 to $40.00 and gave the company an “underweight” rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $53.78.

Victory Capital Stock Up 2.3 %

VCTR stock opened at $57.58 on Thursday. 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 stock has a market capitalization of $3.74 billion, a P/E ratio of 17.66, a P/E/G ratio of 0.61 and a beta of 0.91. The business has a 50-day moving average of $52.43 and a 200-day moving average of $49.96. Victory Capital has a fifty-two week low of $28.66 and a fifty-two week high of $58.02.

Victory Capital (NASDAQ:VCTR) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. The firm had revenue of $219.62 million during the quarter, compared to analysts’ expectations of $220.82 million. On average, sell-side analysts anticipate that Victory Capital will post 5.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Victory Capital

Large investors have recently made changes to their positions in the company. CWM LLC increased its stake in shares of Victory Capital by 486.2% during the second quarter. CWM LLC now owns 680 shares of the company’s stock worth $32,000 after purchasing an additional 564 shares during the period. Amalgamated Bank increased its stake in shares of Victory Capital by 50.7% during the second quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock worth $68,000 after purchasing an additional 479 shares during the period. nVerses Capital LLC increased its stake in shares of Victory Capital by 200.0% during the second quarter. nVerses Capital LLC now owns 2,700 shares of the company’s stock worth $129,000 after purchasing an additional 1,800 shares during the period. Picton Mahoney Asset Management acquired a new stake in Victory Capital during the second quarter worth approximately $156,000. Finally, Rothschild Investment LLC acquired a new stake in Victory Capital during the second quarter worth approximately $202,000. Institutional investors own 87.71% of the company’s stock.

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.