Viking (NYSE:VIK) Shares Gap Down – Time to Sell?

Viking Holdings Ltd (NYSE:VIK)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $42.74, but opened at $40.95. Viking shares last traded at $40.29, with a volume of 862,049 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bank of America upped their target price on shares of Viking from $40.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Stifel Nicolaus upped their price objective on shares of Viking from $39.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Loop Capital started coverage on shares of Viking in a report on Tuesday, February 4th. They set a “buy” rating and a $55.00 target price for the company. Barclays set a $46.00 price target on Viking and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on Viking from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.93.

Viking Stock Up 0.9 %

The company has a 50 day moving average price of $47.64 and a two-hundred day moving average price of $42.70.

Viking (NYSE:VIK) last issued its earnings results on Tuesday, March 11th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Viking’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, research analysts expect that Viking Holdings Ltd will post 1.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VIK. Charles Schwab Investment Management Inc. bought a new stake in Viking in the 3rd quarter worth approximately $1,269,000. Blue Chip Partners LLC purchased a new position in shares of Viking in the 4th quarter worth $279,000. Renaissance Capital LLC grew its holdings in shares of Viking by 8.5% in the fourth quarter. Renaissance Capital LLC now owns 121,547 shares of the company’s stock worth $5,355,000 after acquiring an additional 9,527 shares during the period. Franklin Resources Inc. increased its position in Viking by 25.7% during the third quarter. Franklin Resources Inc. now owns 4,090,768 shares of the company’s stock valued at $154,931,000 after acquiring an additional 836,353 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in Viking in the third quarter valued at about $609,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Viking Company Profile

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.