Victory Capital (NASDAQ:VCTR) Stock Rating Lowered by Zacks Research

Victory Capital (NASDAQ:VCTR) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other brokerages have also issued reports on VCTR. B. Riley lifted their target price on Victory Capital from $74.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $76.00 price target on shares of Victory Capital in a report on Tuesday, September 23rd. Barclays dropped their target price on Victory Capital from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Bank of America increased their price target on Victory Capital from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Victory Capital in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.00.

Victory Capital Price Performance

VCTR traded down $0.47 during trading on Wednesday, hitting $61.21. 747,577 shares of the company traded hands, compared to its average volume of 455,935. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.39. The company has a market cap of $4.09 billion, a PE ratio of 15.11, a P/E/G ratio of 0.63 and a beta of 1.10. The stock’s 50-day simple moving average is $66.46 and its two-hundred day simple moving average is $65.33. Victory Capital has a 1 year low of $47.00 and a 1 year high of $73.42.

Victory Capital (NASDAQ:VCTR) last announced its quarterly earnings results on Thursday, November 6th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. The company had revenue of $361.20 million during the quarter, compared to analyst estimates of $361.14 million. Victory Capital had a return on equity of 26.46% and a net margin of 27.18%.The firm’s revenue was up 60.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.35 earnings per share. As a group, sell-side analysts anticipate that Victory Capital will post 6.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Victory Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Victory Capital by 12.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,741,715 shares of the company’s stock worth $307,073,000 after acquiring an additional 515,845 shares during the last quarter. Amundi purchased a new stake in Victory Capital in the second quarter valued at approximately $213,219,000. Bahl & Gaynor Inc. lifted its stake in Victory Capital by 17.2% during the first quarter. Bahl & Gaynor Inc. now owns 1,825,998 shares of the company’s stock worth $105,671,000 after purchasing an additional 268,573 shares in the last quarter. Geode Capital Management LLC lifted its stake in Victory Capital by 26.5% during the second quarter. Geode Capital Management LLC now owns 1,359,120 shares of the company’s stock worth $86,545,000 after purchasing an additional 285,137 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Victory Capital by 3.3% during the second quarter. State Street Corp now owns 1,239,361 shares of the company’s stock worth $78,910,000 after buying an additional 39,986 shares during the period. Hedge funds and other institutional investors 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.