Deutsche Bank Aktiengesellschaft Has Lowered Expectations for Verra Mobility (NASDAQ:VRRM) Stock Price

Verra Mobility (NASDAQ:VRRM) had its target price reduced by Deutsche Bank Aktiengesellschaft from $31.00 to $29.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on VRRM. Morgan Stanley reduced their price objective on Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. 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.

Verra Mobility Stock Down 1.4 %

Shares of NASDAQ:VRRM opened at $22.80 on Friday. Verra Mobility has a 1 year low of $18.76 and a 1 year high of $31.03. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 38.05, a P/E/G ratio of 1.70 and a beta of 1.27. The business’s 50-day moving average is $27.03 and its 200-day moving average is $27.15. 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 (NASDAQ:VRRM) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $225.55 million for the quarter, compared to the consensus estimate of $226.65 million. Verra Mobility had a return on equity of 40.09% and a net margin of 11.64%. Verra Mobility’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. Equities research analysts predict that Verra Mobility will post 1.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Versor Investments LP acquired a new stake in Verra Mobility during the third quarter worth about $676,000. State of New Jersey Common Pension Fund D lifted its position in shares of Verra Mobility by 2.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 72,051 shares of the company’s stock valued at $2,004,000 after acquiring an additional 1,815 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in shares of Verra Mobility by 76.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 24,908 shares of the company’s stock valued at $693,000 after acquiring an additional 10,805 shares in the last quarter. Atria Investments Inc purchased a new position in shares of Verra Mobility in the third quarter valued at approximately $260,000. Finally, Assetmark Inc. lifted its position in shares of Verra Mobility by 539.0% in the third quarter. Assetmark Inc. now owns 49,841 shares of the company’s stock valued at $1,386,000 after acquiring an additional 42,041 shares in the last quarter.

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.