BMO Capital Markets Raises Victory Capital (NASDAQ:VCTR) Price Target to $69.00

Victory Capital (NASDAQ:VCTR) had its price target boosted by equities researchers at BMO Capital Markets from $61.00 to $69.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 14.05% from the stock’s current price.

Several other analysts have also recently issued reports on VCTR. The Goldman Sachs Group increased their target price on Victory Capital from $59.50 to $60.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Bank of America increased their price objective on shares of 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 dropped their price objective on shares of Victory Capital from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price target on Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Finally, Morgan Stanley raised their price objective on Victory Capital from $39.00 to $40.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.78.

Victory Capital Price Performance

Shares of NASDAQ VCTR traded up $0.92 during mid-day trading on Wednesday, hitting $60.50. 27,415 shares of the company’s stock traded hands, compared to its average volume of 383,460. The company’s 50-day moving average is $53.33 and its two-hundred day moving average is $50.74. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.91 and a quick ratio of 0.91. Victory Capital has a 1 year low of $28.66 and a 1 year high of $60.85. The company has a market capitalization of $3.91 billion, a P/E ratio of 18.56, a PEG ratio of 0.61 and a beta of 0.91.

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

Hedge Funds Weigh In On Victory Capital

A number of hedge funds have recently made changes to their positions in VCTR. CWM LLC lifted its holdings in Victory Capital by 486.2% in the 2nd quarter. CWM LLC now owns 680 shares of the company’s stock valued at $32,000 after purchasing an additional 564 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of Victory Capital by 53.2% in the third quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock valued at $32,000 after purchasing an additional 199 shares during the period. USA Financial Formulas increased its position in Victory Capital by 157.9% during the third quarter. USA Financial Formulas now owns 1,104 shares of the company’s stock worth $61,000 after purchasing an additional 676 shares during the last quarter. Amalgamated Bank raised its stake in 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. Finally, nVerses Capital LLC grew its stake in shares of Victory Capital by 200.0% in the 2nd quarter. nVerses Capital LLC now owns 2,700 shares of the company’s stock valued at $129,000 after buying an additional 1,800 shares during the period. Institutional investors and hedge funds 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.