Zacks Investment Research upgraded shares of Viad (NYSE:VVI) from a hold rating to a strong-buy rating in a report issued on Friday, Zacks.com reports. Zacks Investment Research currently has $80.00 price target on the business services provider’s stock.
According to Zacks, “Viad Corp is an S&P SmallCap 600 international experiential services company with operations in the United States, Canada, the United Kingdom, continental Europe and the United Arab Emirates. Viad generates its revenue and shareholder value through two main business units: GES, a global full-service live events company serving the world’s leading brands and event organizers and Pursuit, a collection of iconic and cultural destination travel experiences that showcase the best of Banff, Jasper, Glacier, Denali and Kenai Fjords National Parks. Their business strategy focuses on providing exceptional experiential services to their customers and sustainable returns on invested capital to their shareholders. “
Separately, ValuEngine downgraded shares of Xylem from a buy rating to a hold rating in a report on Tuesday, May 14th.
Shares of Viad stock opened at $70.34 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.48 and a current ratio of 0.52. The stock has a 50-day simple moving average of $66.46. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 30.06 and a beta of 0.70. Viad has a 1 year low of $46.17 and a 1 year high of $71.11.
Viad (NYSE:VVI) last announced its quarterly earnings data on Thursday, April 25th. The business services provider reported ($0.51) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.25. Viad had a net margin of 3.13% and a return on equity of 10.56%. The company had revenue of $285.60 million for the quarter, compared to the consensus estimate of $272.40 million. During the same period in the prior year, the firm posted ($0.49) EPS. Viad’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts anticipate that Viad will post 2.67 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.57%. The ex-dividend date was Thursday, June 6th. Viad’s dividend payout ratio is presently 17.09%.
In related news, Director Robert E. Munzenrider sold 2,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $62.91, for a total value of $125,820.00. Following the sale, the director now owns 21,025 shares in the company, valued at $1,322,682.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Investors Research Corp purchased a new position in Viad during the first quarter worth $28,000. Quantamental Technologies LLC boosted its stake in shares of Viad by 111.3% during the first quarter. Quantamental Technologies LLC now owns 1,139 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 600 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Viad during the first quarter valued at $206,000. BNP Paribas Arbitrage SA boosted its stake in shares of Viad by 904.3% during the first quarter. BNP Paribas Arbitrage SA now owns 4,248 shares of the business services provider’s stock valued at $239,000 after purchasing an additional 3,825 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Viad during the fourth quarter valued at $243,000. 89.03% of the stock is owned by institutional investors.
Viad Corp operates as an experiential services company in the United States, Canada, the United Kingdom, continental Europe, and the United Arab Emirates. It operates in two business groups, GES and Pursuit. The company offers event planning and production, look and feel design, layout and floor plan designs, furnishings and carpet, show traffic analysis, marketing and strategy, electrical distribution, cleaning, plumbing, overhead and booth rigging, and material handling services; and signage products and common area structures.
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