Oppenheimer Boosts Viad (NYSE:VVI) Price Target to $54.00

Viad (NYSE:VVI) had its price target upped by analysts at Oppenheimer from $41.00 to $54.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price objective would suggest a potential upside of 20.05% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. B. Riley reiterated a “buy” rating and issued a $42.00 price objective (down previously from $46.00) on shares of Viad in a research note on Monday, August 12th. StockNews.com upgraded Viad from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th.

Viad Stock Performance

Shares of VVI opened at $44.98 on Wednesday. The firm has a market capitalization of $953.58 million, a P/E ratio of 89.94, a P/E/G ratio of 2.70 and a beta of 2.04. Viad has a 52 week low of $29.46 and a 52 week high of $47.49. The stock has a 50 day moving average price of $36.94 and a two-hundred day moving average price of $35.22. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.97 and a current ratio of 1.01.

Viad (NYSE:VVI) last released its quarterly earnings results on Thursday, November 7th. The business services provider reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.14. The business had revenue of $455.70 million during the quarter, compared to analyst estimates of $437.10 million. Viad had a return on equity of 47.55% and a net margin of 2.68%. During the same period in the prior year, the firm posted $1.49 EPS. Equities analysts forecast that Viad will post 1.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in Viad by 15.2% in the third quarter. Victory Capital Management Inc. now owns 2,042,265 shares of the business services provider’s stock valued at $73,174,000 after purchasing an additional 269,440 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Viad during the 2nd quarter valued at $2,380,000. River Road Asset Management LLC grew its stake in shares of Viad by 3.6% during the 3rd quarter. River Road Asset Management LLC now owns 1,950,097 shares of the business services provider’s stock worth $69,872,000 after acquiring an additional 67,292 shares during the period. Millennium Management LLC increased its holdings in Viad by 36.8% in the 2nd quarter. Millennium Management LLC now owns 147,817 shares of the business services provider’s stock worth $5,026,000 after acquiring an additional 39,796 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in Viad by 455.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 34,466 shares of the business services provider’s stock valued at $1,172,000 after acquiring an additional 28,262 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

About Viad

Viad Corp provides hospitality, leisure activities, experiential marketing, and live events in the United States, Canada, Europe, the Middle East, and Africa. It operates in three segments: Pursuit, Spiro, and GES Exhibitions. The Pursuit segment offers recreational attractions, hotels and lodges, food and beverage, retail, sightseeing, and ground transportation services.