Piper Sandler Downgrades Victory Capital (NASDAQ:VCTR) to Underweight

Victory Capital (NASDAQ:VCTRGet Rating) was downgraded by research analysts at Piper Sandler from an “overweight” rating to an “underweight” rating in a report released on Wednesday, Marketbeat Ratings reports. They currently have a $29.00 target price on the stock, down from their prior target price of $34.00. Piper Sandler’s target price indicates a potential downside of 5.32% from the stock’s previous close.

VCTR has been the subject of a number of other research reports. Royal Bank of Canada increased their target price on Victory Capital from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, November 9th. B. Riley increased their target price on Victory Capital from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 11th. Morgan Stanley lowered their target price on Victory Capital from $21.00 to $20.00 and set an “underweight” rating for the company in a report on Monday, October 3rd. BMO Capital Markets increased their target price on Victory Capital from $30.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, November 7th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Victory Capital in a report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Victory Capital has an average rating of “Hold” and a consensus target price of $30.25.

Victory Capital Stock Performance

Shares of Victory Capital stock opened at $30.63 on Wednesday. The stock’s fifty day simple moving average is $27.67 and its 200 day simple moving average is $26.99. The company has a market capitalization of $2.10 billion, a PE ratio of 7.64, a PEG ratio of 2.87 and a beta of 1.20. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.94. Victory Capital has a 12 month low of $22.22 and a 12 month high of $37.35.

Hedge Funds Weigh In On Victory Capital

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Victory Capital by 110.6% during the first quarter. Vanguard Group Inc. now owns 1,564,346 shares of the company’s stock worth $45,162,000 after purchasing an additional 821,522 shares during the period. Van Berkom & Associates Inc. grew its holdings in Victory Capital by 13.8% during the second quarter. Van Berkom & Associates Inc. now owns 1,541,598 shares of the company’s stock worth $37,153,000 after purchasing an additional 186,831 shares during the period. TimesSquare Capital Management LLC grew its holdings in Victory Capital by 2.7% during the second quarter. TimesSquare Capital Management LLC now owns 1,416,499 shares of the company’s stock worth $34,138,000 after purchasing an additional 36,740 shares during the period. Strs Ohio grew its holdings in Victory Capital by 26,545.0% during the third quarter. Strs Ohio now owns 1,012,511 shares of the company’s stock worth $23,601,000 after purchasing an additional 1,008,711 shares during the period. Finally, Bank of America Corp DE grew its holdings in Victory Capital by 4.9% during the first quarter. Bank of America Corp DE now owns 810,294 shares of the company’s stock worth $23,393,000 after purchasing an additional 37,750 shares during the period. Institutional investors own 90.16% of the company’s stock.

Victory Capital Company Profile

(Get Rating)

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company worldwide. It offers investment advisory, fund administration, fund compliance, fund transfer agent, and fund distribution services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.

Further Reading

Analyst Recommendations for Victory Capital (NASDAQ:VCTR)

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