Viking (NYSE:VIK) Sets New 52-Week High – Here’s What Happened

Viking Holdings Ltd (NYSE:VIK) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $38.49 and last traded at $38.40, with a volume of 766674 shares. The stock had previously closed at $37.87.

Wall Street Analyst Weigh In

Several research firms have weighed in on VIK. HSBC began coverage on Viking in a report on Tuesday, June 25th. They issued a “buy” rating and a $36.00 price objective for the company. 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. Morgan Stanley raised their target price on shares of Viking from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their price target on shares of Viking from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Finally, Barclays assumed coverage on shares of Viking in a report on Tuesday, July 2nd. They issued an “overweight” rating and a $39.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Viking currently has a consensus rating of “Moderate Buy” and an average price target of $37.17.

Viking Stock Up 0.8 %

The company has a 50 day moving average of $34.14.

Viking (NYSE:VIK) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. On average, analysts forecast that Viking Holdings Ltd will post 1.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VIK. Canada Pension Plan Investment Board purchased a new stake in shares of Viking during the second quarter valued at $2,063,879,000. Select Equity Group L.P. bought a new position in Viking during the 2nd quarter valued at about $145,989,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Viking during the 2nd quarter valued at about $73,247,000. Forest Avenue Capital Management LP bought a new stake in shares of Viking in the second quarter worth approximately $58,008,000. Finally, Millennium Management LLC purchased a new position in shares of Viking during the second quarter valued at approximately $42,008,000.

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.