Viking (NYSE:VIK) Sees Large Volume Increase – Should You Buy?

Viking Holdings Ltd (NYSE:VIK) shares saw an uptick in trading volume on Monday . 1,181,569 shares were traded during mid-day trading, a decline of 36% from the previous session’s volume of 1,856,010 shares.The stock last traded at $38.35 and had previously closed at $38.75.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Viking from $37.00 to $42.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Bank of America upped their price target on Viking from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley lifted their price objective on shares of Viking from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 20th. Barclays upped their price objective on shares of Viking from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus lifted their target price on shares of Viking from $37.00 to $39.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.50.

Viking Stock Performance

The firm’s 50-day moving average is $35.48.

Viking (NYSE:VIK) last posted its earnings results on Thursday, August 22nd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.61 billion. On average, research analysts expect that Viking Holdings Ltd will post 1.13 EPS for the current year.

Institutional Investors Weigh In On Viking

Several institutional investors and hedge funds have recently made changes to their positions in VIK. Empirical Asset Management LLC raised its position in Viking by 6.0% during the third quarter. Empirical Asset Management LLC now owns 9,780 shares of the company’s stock worth $341,000 after acquiring an additional 550 shares during the last quarter. Fruth Investment Management raised its position in shares of Viking by 1.4% during the 3rd quarter. Fruth Investment Management now owns 71,800 shares of the company’s stock worth $2,505,000 after purchasing an additional 1,000 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in Viking in the 2nd quarter valued at approximately $35,000. Sunbelt Securities Inc. acquired a new stake in Viking during the 2nd quarter valued at $68,000. Finally, American National Bank purchased a new position in Viking during the second quarter worth $68,000.

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.