Verra Mobility (NASDAQ:VRRM) Stock Rating Upgraded by Zacks Research

Verra Mobility (NASDAQ:VRRM) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages have also commented on VRRM. Robert W. Baird decreased their target price on Verra Mobility from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $9.00 price objective (down from $22.00) on shares of Verra Mobility in a research note on Wednesday, May 27th. JPMorgan Chase & Co. raised shares of Verra Mobility from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $5.00 to $6.00 in a report on Monday, July 13th. Northcoast Research reiterated a “neutral” rating on shares of Verra Mobility in a research note on Wednesday, May 27th. Finally, William Blair lowered shares of Verra Mobility from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 27th. Nine analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $7.00.

Verra Mobility Stock Performance

Shares of VRRM stock opened at $4.72 on Thursday. The stock has a market capitalization of $717.00 million, a price-to-earnings ratio of 18.15 and a beta of 0.41. Verra Mobility has a one year low of $3.40 and a one year high of $25.57. The company’s 50-day simple moving average is $4.54 and its 200-day simple moving average is $11.23. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.96 and a current ratio of 2.06.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. Verra Mobility had a return on equity of 64.39% and a net margin of 4.40%.The firm had revenue of $263.59 million during the quarter, compared to analyst estimates of $254.81 million. During the same period in the previous year, the company earned $0.34 earnings per share. Verra Mobility’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts anticipate that Verra Mobility will post 1.1 earnings per share for the current fiscal year.

Institutional Trading of Verra Mobility

Several hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in Verra Mobility during the 4th quarter valued at about $68,608,000. River Road Asset Management LLC increased its stake in shares of Verra Mobility by 441.6% in the fourth quarter. River Road Asset Management LLC now owns 2,984,760 shares of the company’s stock valued at $66,888,000 after purchasing an additional 2,433,610 shares during the period. Morgan Stanley raised its holdings in shares of Verra Mobility by 44.8% during the fourth quarter. Morgan Stanley now owns 4,194,005 shares of the company’s stock valued at $93,988,000 after buying an additional 1,296,602 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Verra Mobility by 71.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,924,781 shares of the company’s stock valued at $65,544,000 after buying an additional 1,222,116 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Verra Mobility by 188.7% during the fourth quarter. Jane Street Group LLC now owns 1,210,330 shares of the company’s stock worth $27,123,000 after buying an additional 791,146 shares during the period.

Verra Mobility Company Profile

Verra Mobility, traded on the Nasdaq under the ticker VRRM, is a leading provider of smart mobility solutions designed to improve safety, efficiency and compliance for transportation authorities and commercial fleets. The company develops and operates automated traffic enforcement systems, toll and violation management platforms, and connected-vehicle services. Through its technology offerings, Verra Mobility helps public agencies enhance road safety, reduce congestion and streamline revenue collection for tolling and parking.

Verra Mobility’s core products include red-light and speed-camera enforcement programs, license plate recognition systems, and cloud-based violation processing software.