Verra Mobility (NASDAQ:VRRM) Downgraded by Zacks Investment Research

Verra Mobility (NASDAQ:VRRMGet Rating) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Verra Mobility Corporation designs and develops mobility software. The Company offers speed, bus lane, railroad crossing, and school bus top arm enforcement and enforcement ticketing, as well as crash reports and video-enabled crime data analysis solutions. Verra Mobility Corporation, formerly known as Gores Holdings II Inc., is based in CA, United States. “

Other analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Verra Mobility from $17.00 to $18.00 in a report on Friday, April 1st. TheStreet cut shares of Verra Mobility from a “b-” rating to a “c+” rating in a report on Tuesday, April 12th. Finally, Credit Suisse Group boosted their target price on shares of Verra Mobility from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Monday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Verra Mobility presently has an average rating of “Hold” and a consensus price target of $18.60.

VRRM traded up $0.06 on Wednesday, reaching $14.24. The company had a trading volume of 14,643 shares, compared to its average volume of 880,128. The business has a 50 day simple moving average of $15.93 and a 200 day simple moving average of $15.58. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 61.91 and a beta of 1.32. The company has a debt-to-equity ratio of 3.96, a quick ratio of 3.18 and a current ratio of 3.18. Verra Mobility has a 52-week low of $13.40 and a 52-week high of $18.13.

Verra Mobility (NASDAQ:VRRMGet Rating) last announced its earnings results on Thursday, April 21st. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Verra Mobility had a net margin of 4.36% and a return on equity of 24.84%. As a group, equities research analysts predict that Verra Mobility will post 1.05 EPS for the current fiscal year.

In related news, General Counsel Rebecca Collins sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $17.50, for a total value of $70,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Equitable Trust Co. raised its position in Verra Mobility by 3.7% in the 4th quarter. Equitable Trust Co. now owns 25,033 shares of the company’s stock worth $386,000 after buying an additional 883 shares during the last quarter. Veritable L.P. raised its position in Verra Mobility by 6.8% in the 3rd quarter. Veritable L.P. now owns 15,967 shares of the company’s stock worth $241,000 after buying an additional 1,016 shares during the last quarter. Legal & General Group Plc raised its position in Verra Mobility by 1.1% in the 4th quarter. Legal & General Group Plc now owns 108,243 shares of the company’s stock worth $1,670,000 after buying an additional 1,133 shares during the last quarter. California State Teachers Retirement System raised its position in Verra Mobility by 0.6% in the 3rd quarter. California State Teachers Retirement System now owns 185,776 shares of the company’s stock worth $2,800,000 after buying an additional 1,143 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its position in Verra Mobility by 24.9% in the 3rd quarter. Advisor Group Holdings Inc. now owns 5,779 shares of the company’s stock worth $87,000 after buying an additional 1,152 shares during the last quarter. 94.67% of the stock is owned by institutional investors and hedge funds.

Verra Mobility Company Profile (Get Rating)

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Canada, and Europe. It operates through two segments, Government Solutions and Commercial Services. The Government Solutions segment offers automated safety solutions, including services and technologies that enable photo enforcement through road safety camera programs, which detects and process traffic violations related to red light, speed, school bus, and city bus lanes.

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