Verra Mobility (NASDAQ:VRRM) Shares Gap Down Following Analyst Downgrade

Shares of Verra Mobility Co. (NASDAQ:VRRMGet Free Report) gapped down prior to trading on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $31.00 to $29.00. The stock had previously closed at $25.97, but opened at $25.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Verra Mobility shares last traded at $24.71, with a volume of 234,320 shares trading hands.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley decreased their price target on shares of Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday. Robert W. Baird reduced their price target on Verra Mobility from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Friday.

View Our Latest Stock Report on VRRM

Institutional Trading of Verra Mobility

Several hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in Verra Mobility in the 1st quarter valued at about $26,000. Quest Partners LLC grew its stake in shares of 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 during the last quarter. Signaturefd LLC lifted its holdings in Verra Mobility by 112.4% during the 3rd quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock worth $29,000 after buying an additional 561 shares during the period. Picton Mahoney Asset Management bought a new stake in Verra Mobility in the first quarter valued at approximately $74,000. Finally, Montag A & Associates Inc. boosted its stake in shares of Verra Mobility by 17.1% in the 1st quarter. Montag A & Associates Inc. now owns 3,045 shares of the company’s stock valued at $76,000 after purchasing an additional 445 shares during the last quarter.

Verra Mobility Stock Performance

The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 38.53, a P/E/G ratio of 1.72 and a beta of 1.27. The company has a debt-to-equity ratio of 2.36, a quick ratio of 2.47 and a current ratio of 2.57. The stock has a fifty day simple moving average of $27.03 and a two-hundred day simple moving average of $27.10.

Verra Mobility (NASDAQ:VRRMGet Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Verra Mobility had a net margin of 11.34% and a return on equity of 39.89%. The company had revenue of $222.43 million for the quarter, compared to the consensus estimate of $220.32 million. During the same quarter in the previous year, the company earned $0.27 EPS. Verra Mobility’s quarterly revenue was up 8.8% compared to the same quarter last year. Analysts forecast that Verra Mobility Co. will post 1.07 earnings per share for the current fiscal year.

About Verra Mobility

(Get Free Report)

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.

Further Reading

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