Victory Capital (NASDAQ:VCTR) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Victory Capital (NASDAQ:VCTR) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $18.00 price objective on the stock.

According to Zacks, “Victory Capital Holdings, Inc. is an integrated multi-boutique asset management firm. The company provides institutions, financial advisors and retirement platforms which include separately managed accounts, collective trusts, mutual funds, ETFs and UMA/SMA vehicles. Victory Capital Holdings, Inc. is headquartered in Cleveland, Ohio. “

Several other equities research analysts have also recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Victory Capital to $19.00 and gave the company an outperform rating in a research report on Thursday, May 16th. Oppenheimer started coverage on shares of Victory Capital in a research report on Tuesday, June 11th. They issued a market perform rating for the company. ValuEngine cut shares of Victory Capital from a hold rating to a sell rating in a research report on Thursday, August 1st. Goldman Sachs Group restated a buy rating and issued a $24.00 price objective on shares of Victory Capital in a research report on Tuesday, July 23rd. Finally, Morgan Stanley lowered shares of Victory Capital from an overweight rating to an equal weight rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $18.64.

Shares of Victory Capital stock traded down $0.17 during mid-day trading on Wednesday, reaching $17.23. 106,915 shares of the stock were exchanged, compared to its average volume of 120,688. The company has a market capitalization of $1.10 billion, a P/E ratio of 11.24 and a beta of 1.60. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $18.00. Victory Capital has a fifty-two week low of $7.27 and a fifty-two week high of $19.96.

Victory Capital (NASDAQ:VCTR) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $87.48 million during the quarter, compared to analysts’ expectations of $91.04 million. Victory Capital had a net margin of 17.10% and a return on equity of 23.34%. On average, equities research analysts expect that Victory Capital will post 2.35 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC bought a new position in shares of Victory Capital in the 1st quarter valued at about $33,000. Globeflex Capital L P bought a new position in Victory Capital during the 1st quarter worth approximately $90,000. O Shaughnessy Asset Management LLC bought a new position in Victory Capital during the 1st quarter worth approximately $139,000. Nordea Investment Management AB bought a new position in Victory Capital during the 4th quarter worth approximately $189,000. Finally, Russell Investments Group Ltd. boosted its stake in Victory Capital by 165.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 12,636 shares of the company’s stock worth $217,000 after acquiring an additional 7,879 shares during the last quarter. 14.67% of the stock is currently owned by institutional investors.

About Victory Capital

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an independent investment management company in the United States. It offers investment advisory, fund administration, and distribution services through broker-dealers, retirement platforms, and registered investment advisor networks.

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