Virtus Investment Partners (VRTS) Stock Rating Reaffirmed by Credit Suisse Group

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Virtus Investment Partners (NASDAQ:VRTS)‘s stock had its “outperform” rating reiterated by investment analysts at Credit Suisse Group in a research note issued to investors on Monday, The Fly reports. They presently have a $113.00 price objective on the closed-end fund’s stock, down from their previous price objective of $150.00. Credit Suisse Group’s target price suggests a potential upside of 40.67% from the stock’s current price.

Other analysts have also recently issued reports about the company. Sandler O’Neill initiated coverage on Virtus Investment Partners in a research note on Thursday, December 20th. They issued a “buy” rating and a $94.00 price target on the stock. Zacks Investment Research upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research note on Saturday, October 13th. Barclays cut their price target on Virtus Investment Partners from $140.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, October 29th. Morgan Stanley raised their price target on Virtus Investment Partners from $145.00 to $147.00 and gave the company a “hold” rating in a research note on Tuesday, October 9th. Finally, Bank of America restated a “neutral” rating and issued a $100.00 price target (down from $115.00) on shares of Virtus Investment Partners in a research note on Thursday, December 6th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $109.83.

Virtus Investment Partners stock opened at $80.33 on Monday. Virtus Investment Partners has a 1-year low of $70.00 and a 1-year high of $138.02. The firm has a market capitalization of $597.03 million, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 0.37 and a beta of 1.43.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, October 26th. The closed-end fund reported $3.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.34 by $0.30. Virtus Investment Partners had a return on equity of 19.05% and a net margin of 14.55%. The company had revenue of $152.20 million for the quarter, compared to analysts’ expectations of $149.06 million. During the same period last year, the firm earned $2.30 earnings per share. Virtus Investment Partners’s quarterly revenue was up 23.0% on a year-over-year basis. Equities research analysts predict that Virtus Investment Partners will post 12.28 EPS for the current year.

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc grew its holdings in shares of Virtus Investment Partners by 1.1% during the third quarter. Vanguard Group Inc now owns 683,345 shares of the closed-end fund’s stock worth $77,731,000 after purchasing an additional 7,394 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Virtus Investment Partners during the third quarter worth about $358,000. Vanguard Group Inc. grew its holdings in shares of Virtus Investment Partners by 1.1% during the third quarter. Vanguard Group Inc. now owns 683,345 shares of the closed-end fund’s stock worth $77,731,000 after buying an additional 7,394 shares during the last quarter. Morgan Stanley grew its holdings in shares of Virtus Investment Partners by 30.8% during the third quarter. Morgan Stanley now owns 24,469 shares of the closed-end fund’s stock worth $2,783,000 after buying an additional 5,756 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Virtus Investment Partners by 5.9% during the third quarter. Legal & General Group Plc now owns 16,276 shares of the closed-end fund’s stock worth $1,854,000 after buying an additional 910 shares during the last quarter. 93.07% of the stock is currently owned by institutional investors.

About Virtus Investment Partners

Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.

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Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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