BidaskClub Upgrades Viad Corp (NYSE:VVI) to “Strong-Buy”

Viad Corp (NYSE:VVI) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Monday, July 24th.

Separately, Zacks Investment Research downgraded Viad Corp from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd.

Shares of Viad Corp (NYSE VVI) traded down 0.47% during trading on Monday, reaching $52.50. The company’s stock had a trading volume of 99,866 shares. The company has a 50 day moving average of $50.51 and a 200-day moving average of $46.46. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 16.56 and a beta of 0.54. Viad Corp has a 12-month low of $34.40 and a 12-month high of $54.75.

Viad Corp (NYSE:VVI) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.26. Viad Corp had a return on equity of 16.76% and a net margin of 4.85%. The business had revenue of $364.77 million for the quarter, compared to the consensus estimate of $347.35 million. During the same period in the prior year, the business posted $1.04 earnings per share. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. Analysts forecast that Viad Corp will post $2.76 EPS for the current year.

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Large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Viad Corp by 68,605.4% in the first quarter. BlackRock Inc. now owns 2,476,143 shares of the business services provider’s stock valued at $111,922,000 after buying an additional 2,472,539 shares during the last quarter. FMR LLC acquired a new stake in shares of Viad Corp during the first quarter valued at $21,696,000. Norges Bank acquired a new stake in shares of Viad Corp during the fourth quarter valued at $14,781,000. TimesSquare Capital Management LLC acquired a new stake in shares of Viad Corp during the second quarter valued at $9,442,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Viad Corp by 33.8% in the first quarter. Bank of New York Mellon Corp now owns 390,385 shares of the business services provider’s stock valued at $17,644,000 after buying an additional 98,638 shares during the last quarter. Hedge funds and other institutional investors own 87.02% of the company’s stock.

About Viad Corp

Viad Corp is an international experiential services company. The Company operates through two main business groups: GES, which is a live event service provider to some of the visible and influential events and global brands, and Pursuit, which is a collection of destination travel experiences. GES conducts its operations through two geographical segments: GES U.S., which has full-service operations in exhibition market in the United States, including Las Vegas, Nevada; Chicago, Illinois; Orlando, Florida; New York, New York, and Los Angeles, California, and GES International, which had full-service operations at many of the event destinations and venues.

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