Robert W. Baird Lowers Verra Mobility (NASDAQ:VRRM) Price Target to $28.00

Verra Mobility (NASDAQ:VRRM) had its price target cut by investment analysts at Robert W. Baird from $29.00 to $28.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 21.11% from the stock’s previous close.

A number of other analysts have also weighed in on VRRM. Deutsche Bank Aktiengesellschaft upped their price objective on 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 cut their price objective on Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday.

Verra Mobility Stock Down 11.0 %

NASDAQ:VRRM opened at $23.12 on Friday. The company has a quick ratio of 2.47, a current ratio of 2.57 and a debt-to-equity ratio of 2.36. The stock’s fifty day moving average is $27.03 and its two-hundred day moving average is $27.10. Verra Mobility has a 52 week low of $18.76 and a 52 week high of $31.03. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 1.70 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Verra Mobility had a return on equity of 40.09% and a net margin of 11.64%. The company had revenue of $222.43 million for the quarter, compared to analysts’ expectations of $220.32 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. Research analysts anticipate that Verra Mobility will post 1.07 EPS for the current year.

Institutional Trading of Verra Mobility

A number of large investors have recently modified their holdings of VRRM. Vanguard Group Inc. increased its holdings in Verra Mobility by 1.3% in the first quarter. Vanguard Group Inc. now owns 17,466,733 shares of the company’s stock valued at $436,144,000 after buying an additional 231,566 shares during the last quarter. UniSuper Management Pty Ltd purchased a new position in Verra Mobility in the first quarter valued at $782,000. BNP Paribas Financial Markets increased its holdings in Verra Mobility by 26.7% in the first quarter. BNP Paribas Financial Markets now owns 144,906 shares of the company’s stock valued at $3,618,000 after buying an additional 30,548 shares during the last quarter. Jupiter Asset Management Ltd. increased its holdings in Verra Mobility by 51.5% in the first quarter. Jupiter Asset Management Ltd. now owns 1,083,037 shares of the company’s stock valued at $27,043,000 after buying an additional 367,976 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Verra Mobility by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,180,519 shares of the company’s stock valued at $86,512,000 after buying an additional 193,686 shares during 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.