Morgan Stanley Increases Verra Mobility (NASDAQ:VRRM) Price Target to $19.00

Verra Mobility (NASDAQ:VRRM) had its price target lifted by equities researchers at Morgan Stanley from $18.00 to $19.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential downside of 8.26% from the company’s previous close.

Other analysts also recently issued research reports about the company. Robert W. Baird boosted their price target on Verra Mobility from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, July 20th. UBS Group assumed coverage on Verra Mobility in a research note on Friday, October 20th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Verra Mobility from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Verra Mobility has an average rating of “Moderate Buy” and a consensus target price of $21.20.

Verra Mobility Stock Up 4.9 %

Verra Mobility stock opened at $20.71 on Friday. The company has a debt-to-equity ratio of 2.43, a quick ratio of 2.89 and a current ratio of 3.00. The business’s 50-day simple moving average is $19.16 and its two-hundred day simple moving average is $18.99. The company has a market cap of $3.51 billion, a PE ratio of 44.06, a PEG ratio of 1.94 and a beta of 1.17. Verra Mobility has a fifty-two week low of $13.19 and a fifty-two week high of $21.54.

Verra Mobility (NASDAQ:VRRM) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $209.93 million for the quarter, compared to the consensus estimate of $208.59 million. Verra Mobility had a return on equity of 51.54% and a net margin of 10.38%. Equities analysts anticipate that Verra Mobility will post 1 EPS for the current year.

Insider Transactions at Verra Mobility

In related news, CFO Craig C. Conti sold 37,780 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $19.14, for a total value of $723,109.20. Following the completion of the transaction, the chief financial officer now owns 27,906 shares of the company’s stock, valued at approximately $534,120.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Verra Mobility

A number of large investors have recently bought and sold shares of VRRM. Bank of New York Mellon Corp raised its holdings in Verra Mobility by 3.9% in the 1st quarter. Bank of New York Mellon Corp now owns 643,613 shares of the company’s stock worth $10,478,000 after purchasing an additional 23,894 shares during the period. Acadian Asset Management LLC acquired a new position in Verra Mobility in the 1st quarter worth about $205,000. MetLife Investment Management LLC raised its holdings in Verra Mobility by 63.0% in the 1st quarter. MetLife Investment Management LLC now owns 80,812 shares of the company’s stock worth $1,316,000 after purchasing an additional 31,231 shares during the period. BlackRock Inc. raised its holdings in Verra Mobility by 3.5% in the 1st quarter. BlackRock Inc. now owns 9,741,503 shares of the company’s stock worth $158,592,000 after purchasing an additional 329,023 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Verra Mobility by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,238,882 shares of the company’s stock worth $20,167,000 after purchasing an additional 108,092 shares during the period.

Verra Mobility Company Profile

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.