Verra Mobility (NASDAQ:VRRM – Free Report) had its target price decreased by Morgan Stanley from $5.00 to $3.00 in a research report report published on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.
Several other research analysts also recently weighed in on the company. Zacks Research upgraded Verra Mobility from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. cut shares of Verra Mobility from a “neutral” rating to an “underweight” rating in a research note on Tuesday. UBS Group upped their price objective on shares of Verra Mobility from $4.00 to $6.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Verra Mobility in a research note on Monday, September 14th. Eight equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $6.50.
Read Our Latest Stock Analysis on VRRM
Verra Mobility Stock Down 5.6%
NASDAQ:VRRM traded down $0.13 during midday trading on Wednesday, hitting $2.19. 5,205,965 shares of the company were exchanged, compared to its average volume of 4,908,955. The company has a current ratio of 2.05, a quick ratio of 1.97 and a debt-to-equity ratio of 3.86. Verra Mobility has a fifty-two week low of $2.16 and a fifty-two week high of $23.50. The company has a market capitalization of $332.84 million, a PE ratio of 9.12 and a beta of 0.45. The company has a fifty day simple moving average of $3.23 and a 200 day simple moving average of $9.09.
Verra Mobility (NASDAQ:VRRM – Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.10. The business had revenue of $258.88 million during the quarter, compared to the consensus estimate of $240.57 million. Verra Mobility had a return on equity of 71.65% and a net margin of 3.77%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 earnings per share. As a group, equities analysts anticipate that Verra Mobility will post 1.11 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Verra Mobility
A number of hedge funds and other institutional investors have recently bought and sold shares of VRRM. Bank of America Corp DE boosted its position in shares of Verra Mobility by 34.4% during the 1st quarter. Bank of America Corp DE now owns 1,576,119 shares of the company’s stock worth $22,523,000 after purchasing an additional 403,638 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Verra Mobility by 10.6% in the 1st quarter. Sei Investments Co. now owns 1,213,838 shares of the company’s stock valued at $17,346,000 after purchasing an additional 115,968 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its stake in shares of Verra Mobility by 1.7% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,147,170 shares of the company’s stock valued at $16,393,000 after purchasing an additional 19,610 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Verra Mobility by 206.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 935,021 shares of the company’s stock valued at $13,361,000 after purchasing an additional 629,754 shares during the period. Finally, Edgestream Partners L.P. boosted its holdings in Verra Mobility by 41.5% during the first quarter. Edgestream Partners L.P. now owns 818,595 shares of the company’s stock worth $11,698,000 after buying an additional 240,163 shares in 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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