Oppenheimer Cuts Via Transportation (NYSE:VIA) Price Target to $40.00

Via Transportation (NYSE:VIA) had its price objective cut by Oppenheimer from $59.00 to $40.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 50.07% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Via Transportation in a research note on Monday, December 29th. Citizens Jmp began coverage on Via Transportation in a report on Tuesday, October 7th. They issued a “mkt outperform” rating and a $59.00 price objective on the stock. Raymond James Financial set a $55.00 price target on Via Transportation and gave the company an “outperform” rating in a research note on Tuesday, October 7th. The Goldman Sachs Group raised shares of Via Transportation from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 13th. Finally, Zacks Research upgraded shares of Via Transportation to a “hold” rating in a report on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Via Transportation currently has an average rating of “Moderate Buy” and an average target price of $54.91.

Via Transportation Price Performance

VIA stock opened at $26.66 on Thursday. Via Transportation has a 1 year low of $22.65 and a 1 year high of $56.31. The company has a quick ratio of 5.17, a current ratio of 5.17 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.16 billion and a price-to-earnings ratio of -38.51. The firm has a 50 day moving average of $31.21.

Via Transportation (NYSE:VIA) last issued its earnings results on Friday, November 14th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.04). The business had revenue of $109.65 million during the quarter, compared to analyst estimates of $106.42 million.

Institutional Investors Weigh In On Via Transportation

A number of hedge funds and other institutional investors have recently modified their holdings of VIA. Bank of America Corp DE purchased a new position in Via Transportation in the third quarter valued at $29,000. Assetmark Inc. purchased a new stake in Via Transportation during the third quarter worth approximately $36,000. PNC Financial Services Group Inc. acquired a new stake in Via Transportation during the third quarter worth approximately $60,000. WINTON GROUP Ltd acquired a new position in shares of Via Transportation in the 3rd quarter valued at $219,000. Finally, Legal & General Group Plc purchased a new stake in Via Transportation in the third quarter valued at $239,000. 74.40% of the stock is currently owned by institutional investors and hedge funds.

Via Transportation Company Profile

Via transforms antiquated and siloed public transportation systems into smart, data-driven, and efficient digital networks. We are addressing a striking gap in the $545 billion global public transportation market. While billions of people across the globe rely on public transportation, this critical form of mobility has yet to meaningfully benefit from recent advances in technology. Buses still follow fixed routes and schedules planned years, if not decades ago, regardless of actual demand for their service.