Morgan Stanley Issues Pessimistic Forecast for Verra Mobility (NASDAQ:VRRM) Stock Price

Verra Mobility (NASDAQ:VRRM) had its price target cut by research analysts at Morgan Stanley from $26.00 to $25.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 3.74% from the company’s previous close.

A number of other analysts have also weighed in on VRRM. Robert W. Baird increased their price objective on Verra Mobility from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price objective on Verra Mobility from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

Verra Mobility Stock Down 1.3 %

Shares of VRRM opened at $25.97 on Wednesday. The firm has a market cap of $4.32 billion, a P/E ratio of 52.20, a P/E/G ratio of 1.73 and a beta of 1.27. The stock has a 50 day simple moving average of $27.15 and a two-hundred day simple moving average of $27.12. The company has a debt-to-equity ratio of 2.36, a current ratio of 2.57 and a quick ratio of 2.47. Verra Mobility has a 1 year low of $18.76 and a 1 year high of $31.03.

Verra Mobility (NASDAQ:VRRM) last issued its earnings results on Thursday, August 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $222.43 million during the quarter, compared to analyst estimates of $220.32 million. Verra Mobility had a return on equity of 39.89% and a net margin of 11.34%. Verra Mobility’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 earnings per share. On average, analysts forecast that Verra Mobility will post 1.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verra Mobility

A number of hedge funds and other institutional investors have recently made changes to their positions in VRRM. Allspring Global Investments Holdings LLC bought a new position in Verra Mobility in the first quarter worth $26,000. Quest Partners LLC raised its holdings in Verra Mobility by 1,732.7% in the second quarter. Quest Partners LLC now owns 1,008 shares of the company’s stock worth $27,000 after purchasing an additional 953 shares in the last quarter. Signaturefd LLC raised its holdings in Verra Mobility by 112.4% in the third quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock worth $29,000 after purchasing an additional 561 shares in the last quarter. Picton Mahoney Asset Management bought a new position in Verra Mobility in the first quarter worth $74,000. Finally, Montag A & Associates Inc. raised its holdings in Verra Mobility by 17.1% in the first quarter. Montag A & Associates Inc. now owns 3,045 shares of the company’s stock worth $76,000 after purchasing an additional 445 shares in the last quarter.

About Verra Mobility

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.