Viad (NYSE:VVI) Receives Outperform Rating from Oppenheimer

Oppenheimer reissued their outperform rating on shares of Viad (NYSE:VVI) in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a $41.00 target price on the business services provider’s stock.

A number of other research firms also recently weighed in on VVI. B. Riley reiterated a buy rating and set a $42.00 price target (down previously from $46.00) on shares of Viad in a research note on Monday, August 12th. StockNews.com raised shares of Viad from a sell rating to a hold rating in a report on Wednesday, August 7th.

Viad Stock Performance

NYSE:VVI opened at $35.18 on Tuesday. The company has a debt-to-equity ratio of 3.73, a quick ratio of 1.02 and a current ratio of 1.07. The firm’s 50-day moving average is $33.96 and its 200-day moving average is $34.80. Viad has a 52-week low of $22.88 and a 52-week high of $40.27. The company has a market cap of $743.28 million, a price-to-earnings ratio of -92.58, a PEG ratio of 1.91 and a beta of 2.04.

Viad (NYSE:VVI) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.77 by $0.20. Viad had a return on equity of 29.43% and a net margin of 2.30%. The firm had revenue of $378.54 million during the quarter, compared to analysts’ expectations of $358.72 million. During the same quarter in the prior year, the firm posted $0.36 EPS. Equities research analysts anticipate that Viad will post 1.1 earnings per share for the current year.

Hedge Funds Weigh In On Viad

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in Viad by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 8,107 shares of the business services provider’s stock valued at $276,000 after acquiring an additional 350 shares during the period. Rhumbline Advisers boosted its stake in shares of Viad by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 61,437 shares of the business services provider’s stock valued at $2,089,000 after purchasing an additional 375 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Viad by 2.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 18,308 shares of the business services provider’s stock worth $723,000 after purchasing an additional 414 shares during the last quarter. ClariVest Asset Management LLC increased its position in shares of Viad by 2.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 22,553 shares of the business services provider’s stock worth $767,000 after purchasing an additional 612 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in Viad by 5.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 12,609 shares of the business services provider’s stock valued at $498,000 after purchasing an additional 619 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

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.