Shares of Verra Mobility Corp (NASDAQ:VRRM – Get Free Report) reached a new 52-week low on Friday. The company traded as low as $2.60 and last traded at $2.80, with a volume of 13,084,204 shares changing hands. The stock had previously closed at $3.34.
Analyst Upgrades and Downgrades
VRRM has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Verra Mobility from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Morgan Stanley set a $5.00 target price on shares of Verra Mobility in a report on Thursday, August 6th. Zacks Research upgraded shares of Verra Mobility from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Weiss Ratings restated a “sell (d)” rating on shares of Verra Mobility in a research report on Monday, September 14th. Finally, UBS Group upped their price target on shares of Verra Mobility from $4.00 to $6.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Nine equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $6.83.
Verra Mobility Stock Down 16.2%
The stock has a 50 day moving average price of $3.43 and a 200-day moving average price of $9.59. The stock has a market capitalization of $425.54 million, a P/E ratio of 10.77 and a beta of 0.42. The company has a debt-to-equity ratio of 4.58, a current ratio of 2.06 and a quick ratio of 1.96.
Verra Mobility (NASDAQ:VRRM – Get Free Report) last issued its earnings results on Friday, October 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.10. The firm had revenue of $258.88 million for the quarter, compared to analysts’ expectations of $240.57 million. Verra Mobility had a net margin of 4.40% and a return on equity of 64.39%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. As a group, research analysts expect that Verra Mobility Corp will post 1.10 EPS for the current fiscal year.
Institutional Investors Weigh In On Verra Mobility
Large investors have recently modified their holdings of the stock. New York State Teachers Retirement System increased its stake in shares of Verra Mobility by 2.2% in the 1st quarter. New York State Teachers Retirement System now owns 61,907 shares of the company’s stock worth $885,000 after acquiring an additional 1,351 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Verra Mobility by 10.7% during the first quarter. PNC Financial Services Group Inc. now owns 19,403 shares of the company’s stock valued at $277,000 after purchasing an additional 1,876 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Verra Mobility by 9.4% during the first quarter. Pictet Asset Management Holding SA now owns 26,184 shares of the company’s stock valued at $374,000 after purchasing an additional 2,240 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Verra Mobility by 34.1% during the second quarter. GAMMA Investing LLC now owns 11,142 shares of the company’s stock valued at $47,000 after purchasing an additional 2,832 shares during the last quarter. Finally, Lido Advisors LLC lifted its holdings in shares of Verra Mobility by 31.5% during the first quarter. Lido Advisors LLC now owns 13,744 shares of the company’s stock valued at $196,000 after purchasing an additional 3,289 shares during the last quarter.
About Verra Mobility
Verra Mobility Corporation (NASDAQ:VRRM) provides smart mobility technology and services designed to improve transportation safety, efficiency and compliance. The company develops cloud-based solutions that help government agencies, commercial fleets and mobility providers manage transportation-related processes and data.
Its government solutions include automated safety enforcement programs for red-light, speed, school-zone and bus-lane violations, as well as technology supporting school bus safety initiatives.
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