Zacks Investment Research Upgrades Vertiv (NYSE:VRT) to Hold

Vertiv (NYSE:VRTGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Vertiv Holdings Co provides digital infrastructure and continuity solutions. It offers hardware, software, analytics and ongoing services. Vertiv Holdings Co, formerly known as GS Acquisition Holdings Corp, is headquartered in Columbus, Ohio. “

Several other brokerages have also commented on VRT. TheStreet lowered shares of Vertiv from a “c-” rating to a “d” rating in a report on Wednesday, February 23rd. The Goldman Sachs Group decreased their price target on shares of Vertiv from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, March 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Vertiv from $31.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, February 24th. Vertical Research reiterated a “hold” rating and issued a $15.00 price target on shares of Vertiv in a research note on Wednesday, February 23rd. Finally, JPMorgan Chase & Co. upgraded shares of Vertiv from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $29.00 to $18.00 in a research note on Friday, April 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vertiv presently has a consensus rating of “Hold” and a consensus target price of $19.65.

Shares of NYSE VRT opened at $12.76 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 2.08. Vertiv has a 12 month low of $9.59 and a 12 month high of $28.80. The firm has a market capitalization of $4.80 billion, a PE ratio of 38.67, a price-to-earnings-growth ratio of 1.18 and a beta of 1.14. The firm has a fifty day simple moving average of $12.90 and a two-hundred day simple moving average of $20.19.

Vertiv (NYSE:VRTGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The company reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.08. Vertiv had a net margin of 2.39% and a return on equity of 30.27%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business earned $0.21 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts predict that Vertiv will post 0.64 earnings per share for the current year.

In other Vertiv news, CEO Robert Joseph Johnson sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $12.77, for a total transaction of $1,277,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Patrick R. Johnson purchased 15,000 shares of the company’s stock in a transaction dated Wednesday, March 16th. The shares were bought at an average cost of $12.39 per share, for a total transaction of $185,850.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 38,000 shares of company stock valued at $475,960. 5.06% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in VRT. OLD Mission Capital LLC purchased a new stake in shares of Vertiv during the 3rd quarter valued at about $1,351,000. Morgan Stanley boosted its holdings in shares of Vertiv by 14.4% during the 2nd quarter. Morgan Stanley now owns 342,255 shares of the company’s stock valued at $9,343,000 after acquiring an additional 43,135 shares during the last quarter. AE Wealth Management LLC boosted its holdings in shares of Vertiv by 17.2% during the 3rd quarter. AE Wealth Management LLC now owns 13,386 shares of the company’s stock valued at $322,000 after acquiring an additional 1,967 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Vertiv by 5.7% during the 3rd quarter. New York State Common Retirement Fund now owns 555,108 shares of the company’s stock valued at $13,373,000 after acquiring an additional 29,731 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Vertiv by 2.6% in the third quarter. Raymond James & Associates now owns 324,505 shares of the company’s stock worth $7,817,000 after buying an additional 8,320 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

About Vertiv (Get Rating)

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments. It offers AC and DC power management products, thermal management products, integrated rack systems, modular solutions, and management systems for monitoring and controlling digital infrastructure that are integral to the technologies used for various services, including e-commerce, online banking, file sharing, video on-demand, energy storage, wireless communications, Internet of Things, and online gaming.

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