Credit Suisse Downgrades Virtus Investment Partners (VRTS) to Neutral

October 31, 2016 7:08 AM EDT
Get Alerts VRTS Hot Sheet
Price: $119.85 -0.58%

Rating Summary:
    0 Buy, 5 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 16 | New: 13
Trade VRTS Now!
Join SI Premium – FREE

Get access to the best calls on Wall Street with's Ratings Insider Elite. Get your Free Trial here.

Credit Suisse downgraded Virtus Investment Partners (NASDAQ: VRTS) from Outperform to Neutral with a price target of $119.00 (from $104.00).

Analyst Ari Ghosh commented, "We are Downgrading Virtus to Neutral (from Outperform) given the stock's strong performance over the last three months during which the stock price increased 41% (vs. the average asset manager which was down 9%), and in turn now embeds a significant portion of upside that we project. Company fundamentals continue to improve, with net flows inflecting positive in 3Q and fund performance ranking one of the highest in our coverage, while management has executed an aggressive capital deployment plan and has reduced the share count by 30% (in addition to maintaining the div and seeding new products) since the beginning of the year. And while VRTS is now one of our favorite Neutral rated stocks, we look for a more attractive entry point before we get more constructive."

For an analyst ratings summary and ratings history on Virtus Investment Partners click here. For more ratings news on Virtus Investment Partners click here.

Shares of Virtus Investment Partners closed at $111.55 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change, Downgrades

Related Entities

Credit Suisse

Add Your Comment