Morgan Stanley Cuts Verra Mobility (NASDAQ:VRRM) Price Target to $25.00

Verra Mobility (NASDAQ:VRRM) had its target price decreased by Morgan Stanley from $26.00 to $25.00 in a research report sent to investors on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other brokerages have also weighed in on VRRM. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Verra Mobility from $28.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 9th. Robert W. Baird lifted their target price on Verra Mobility from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, October 14th.

Verra Mobility Trading Down 11.0 %

Shares of Verra Mobility stock opened at $23.12 on Wednesday. Verra Mobility has a fifty-two week low of $18.76 and a fifty-two week high of $31.03. The business’s fifty day moving average is $27.03 and its two-hundred day moving average is $27.10. 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 firm has a market cap of $3.81 billion, a PE ratio of 40.56, a P/E/G ratio of 1.72 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Verra Mobility had a return on equity of 39.89% and a net margin of 11.34%. The firm had revenue of $222.43 million for the quarter, compared to analyst estimates of $220.32 million. During the same period last year, the company earned $0.27 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts anticipate that Verra Mobility will post 1.07 earnings per share for the current year.

Institutional Trading of Verra Mobility

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in Verra Mobility in the 1st quarter worth $26,000. Braun Stacey Associates Inc. boosted its holdings in Verra Mobility by 6.5% in the first quarter. Braun Stacey Associates Inc. now owns 139,445 shares of the company’s stock valued at $3,482,000 after purchasing an additional 8,545 shares during the last quarter. BNP Paribas Financial Markets boosted 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 purchasing an additional 30,548 shares during the last quarter. RiverPark Advisors LLC grew its stake in Verra Mobility by 245.9% during the 1st quarter. RiverPark Advisors LLC now owns 16,946 shares of the company’s stock valued at $423,000 after purchasing an additional 12,047 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its holdings in Verra Mobility by 4.7% during the 1st quarter. DAVENPORT & Co LLC now owns 1,868,697 shares of the company’s stock worth $47,014,000 after purchasing an additional 83,753 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.