Oppenheimer Increases Vertiv (NYSE:VRT) Price Target to $115.00

Vertiv (NYSE:VRT) had its price objective hoisted by research analysts at Oppenheimer from $100.00 to $115.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 7.01% from the stock’s previous close.

VRT has been the subject of several other reports. The Goldman Sachs Group reduced their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. TD Cowen upped their target price on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Jefferies Financial Group began coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Mizuho raised Vertiv from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $95.00 to $92.00 in a report on Wednesday, August 7th. Finally, Evercore ISI raised their price objective on shares of Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $110.44.

Vertiv Stock Down 4.4 %

NYSE VRT opened at $107.47 on Monday. The stock has a fifty day moving average of $87.74 and a 200-day moving average of $88.65. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. Vertiv has a 52 week low of $34.60 and a 52 week high of $113.43. The stock has a market capitalization of $40.23 billion, a P/E ratio of 103.34, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. Vertiv’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 EPS. On average, equities research analysts forecast that Vertiv will post 2.58 EPS for the current year.

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Vertiv by 5.5% in the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after purchasing an additional 1,766,784 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Vertiv by 303.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after buying an additional 3,591,903 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Vertiv during the 2nd quarter valued at about $331,091,000. Westfield Capital Management Co. LP boosted its holdings in shares of Vertiv by 85.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after acquiring an additional 1,563,466 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Vertiv by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock valued at $245,189,000 after buying an additional 451,830 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

Vertiv Company Profile

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.