Royal Bank of Canada Forecasts Strong Price Appreciation for Victory Capital (NASDAQ:VCTR) Stock

Victory Capital (NASDAQ:VCTR) had its price target raised by analysts at Royal Bank of Canada from $61.00 to $72.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 13.92% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Barclays raised their price objective on Victory Capital from $59.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Morgan Stanley raised their price target on Victory Capital from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Bank of America increased their price objective on Victory Capital from $58.00 to $59.00 and gave the company a “buy” rating in a report on Monday, August 12th. UBS Group boosted their target price on shares of Victory Capital from $49.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group increased their price target on shares of Victory Capital from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Victory Capital Stock Performance

Shares of VCTR opened at $63.20 on Thursday. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.56 and a beta of 0.90. Victory Capital has a 12 month low of $31.18 and a 12 month high of $70.56. The firm has a fifty day simple moving average of $58.25 and a 200 day simple moving average of $53.38. The company has a current ratio of 1.19, a quick ratio of 0.91 and a debt-to-equity ratio of 0.84.

Institutional Trading of Victory Capital

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its position in Victory Capital by 110.6% during the 3rd quarter. Barclays PLC now owns 99,367 shares of the company’s stock worth $5,506,000 after buying an additional 52,191 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Victory Capital during the third quarter worth about $211,000. State Street Corp raised its stake in Victory Capital by 6.4% in the 3rd quarter. State Street Corp now owns 1,162,842 shares of the company’s stock worth $64,421,000 after purchasing an additional 69,654 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Victory Capital by 4.2% in the 3rd quarter. HighTower Advisors LLC now owns 9,351 shares of the company’s stock valued at $520,000 after purchasing an additional 377 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of Victory Capital during the 3rd quarter worth approximately $2,941,000. 87.71% of the stock is currently owned by institutional investors.

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.