Robert W. Baird Increases Verra Mobility (NASDAQ:VRRM) Price Target to $29.00

Verra Mobility (NASDAQ:VRRM) had its price target upped by analysts at Robert W. Baird from $28.00 to $29.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 7.65% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Verra Mobility from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Morgan Stanley raised their target price on Verra Mobility from $22.00 to $27.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th.

Verra Mobility Price Performance

Verra Mobility stock opened at $26.94 on Monday. The company has a quick ratio of 2.47, a current ratio of 2.57 and a debt-to-equity ratio of 2.36. Verra Mobility has a 52-week low of $18.76 and a 52-week high of $31.03. The company has a fifty day simple moving average of $27.28 and a 200-day simple moving average of $26.97. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 53.88, a PEG ratio of 1.77 and a beta of 1.27.

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

Hedge Funds Weigh In On Verra Mobility

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Verra Mobility by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 17,466,733 shares of the company’s stock worth $436,144,000 after buying an additional 231,566 shares during the last quarter. UniSuper Management Pty Ltd acquired a new stake in Verra Mobility during the 1st quarter worth about $782,000. BNP Paribas Financial Markets boosted its position in Verra Mobility by 26.7% during the 1st quarter. BNP Paribas Financial Markets now owns 144,906 shares of the company’s stock worth $3,618,000 after acquiring an additional 30,548 shares during the period. Jupiter Asset Management Ltd. raised its stake in shares of Verra Mobility by 51.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,083,037 shares of the company’s stock worth $27,043,000 after purchasing an additional 367,976 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Verra Mobility during the 1st quarter worth about $26,218,000.

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.