Robert W. Baird Raises Verra Mobility (NASDAQ:VRRM) Price Target to $28.00

Verra Mobility (NASDAQ:VRRM) had its target price boosted by Robert W. Baird from $27.00 to $28.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. Baird R W raised shares of Verra Mobility from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 22nd. Morgan Stanley reduced their price objective on Verra Mobility from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Verra Mobility has an average rating of “Buy” and an average target price of $27.38.

Verra Mobility Stock Performance

VRRM opened at $24.28 on Thursday. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13. The firm has a market cap of $3.87 billion, a PE ratio of 40.47, a P/E/G ratio of 2.18 and a beta of 0.80. The business has a fifty day simple moving average of $21.64 and a 200-day simple moving average of $23.64. Verra Mobility has a fifty-two week low of $19.51 and a fifty-two week high of $31.03.

Verra Mobility (NASDAQ:VRRM) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. The firm had revenue of $223.25 million for the quarter, compared to analysts’ expectations of $216.94 million. During the same quarter last year, the business posted $0.27 EPS. Verra Mobility’s revenue was up 6.5% on a year-over-year basis. As a group, equities analysts predict that Verra Mobility will post 1.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Verra Mobility

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC raised its position in Verra Mobility by 400.2% during the third quarter. Barclays PLC now owns 294,457 shares of the company’s stock valued at $8,189,000 after acquiring an additional 235,589 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Verra Mobility by 8.4% during the 4th quarter. LPL Financial LLC now owns 151,920 shares of the company’s stock valued at $3,673,000 after purchasing an additional 11,772 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Verra Mobility in the 4th quarter valued at $2,348,000. Smartleaf Asset Management LLC boosted its holdings in Verra Mobility by 245.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company’s stock worth $56,000 after purchasing an additional 1,640 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Verra Mobility by 6.4% during the third quarter. Principal Financial Group Inc. now owns 3,756,352 shares of the company’s stock worth $104,464,000 after buying an additional 225,585 shares during the last quarter.

About Verra Mobility

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.