Viad (NYSE:VVI) Sees Strong Trading Volume – What’s Next?

Viad Corp (NYSE:VVI) saw an uptick in trading volume on Wednesday . 62,491 shares changed hands during mid-day trading, a decline of 33% from the previous session’s volume of 93,083 shares.The stock last traded at $41.62 and had previously closed at $41.91.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $41.00 target price on shares of Viad in a research report on Tuesday, September 17th. B. Riley restated a “buy” rating and issued a $42.00 price objective (down previously from $46.00) on shares of Viad in a report on Monday, August 12th. Finally, StockNews.com upgraded shares of Viad from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th.

Viad Stock Performance

The stock has a fifty day moving average price of $34.99 and a 200 day moving average price of $34.73. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 3.73. The firm has a market cap of $844.27 million, a price-to-earnings ratio of -105.16, a price-to-earnings-growth ratio of 2.15 and a beta of 2.04.

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

Institutional Investors Weigh In On Viad

Hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale bought a new stake in Viad during the 2nd quarter valued at approximately $38,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Viad by 63.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,483 shares of the business services provider’s stock valued at $152,000 after purchasing an additional 1,748 shares during the period. Lazard Asset Management LLC acquired a new stake in Viad in the 1st quarter worth $228,000. Squarepoint Ops LLC bought a new position in shares of Viad during the 2nd quarter worth about $228,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Viad by 4.5% during 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 buying an additional 350 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

Viad Company Profile

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.