Viking (NYSE:VIK) Shares Gap Down - Here's Why

Shares of Viking Holdings Ltd (NYSE:VIK - Get Free Report) gapped down prior to trading 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 trading hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VIK. Bank of America increased their price objective on Viking from $40.00 to $51.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. The Goldman Sachs Group started coverage on shares of Viking in a report on Wednesday, January 22nd. They issued a "neutral" rating and a $49.00 target price on the stock. Morgan Stanley upgraded shares of Viking from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $37.00 to $49.00 in a research report on Tuesday, November 12th. Citigroup initiated coverage on shares of Viking in a research note on Thursday, December 19th. They set a "buy" rating and a $54.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Viking from $50.00 to $58.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.13.

Viking Price Performance

The firm's 50 day moving average price is $47.81 and its 200-day moving average price is $42.62.

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Viking (NYSE:VIK - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.09. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. The firm's revenue was up 20.5% compared to the same quarter last year. On average, sell-side analysts expect that Viking Holdings Ltd will post 1.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viking

Institutional investors have recently made changes to their positions in the stock. Entropy Technologies LP acquired a new stake in Viking in the third quarter worth $830,000. GSA Capital Partners LLP bought a new position in Viking during the 3rd quarter worth about $2,182,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Viking by 32.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 39,307 shares of the company's stock valued at $1,371,000 after purchasing an additional 9,722 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of Viking in the 3rd quarter valued at about $306,000. Finally, Avior Wealth Management LLC bought a new stake in shares of Viking in the third quarter valued at about $27,000. 98.84% of the stock is owned by institutional investors and hedge funds.

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.

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