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

Verra Mobility Co. (NASDAQ:VRRM)’s share price gapped down before the market opened 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.

A number of other brokerages have also issued reports on VRRM. Robert W. Baird decreased their target price on shares of Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday. Morgan Stanley reduced their price target on Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of VRRM. Allspring Global Investments Holdings LLC purchased a new position in Verra Mobility during the first quarter worth approximately $26,000. BNP Paribas Financial Markets raised its position in shares of Verra Mobility by 26.7% in the 1st quarter. BNP Paribas Financial Markets now owns 144,906 shares of the company’s stock worth $3,618,000 after buying an additional 30,548 shares during the period. RiverPark Advisors LLC boosted its holdings in Verra Mobility by 245.9% in the first quarter. RiverPark Advisors LLC now owns 16,946 shares of the company’s stock valued at $423,000 after acquiring an additional 12,047 shares during the last quarter. DAVENPORT & Co LLC grew its position in Verra Mobility by 4.7% during the first quarter. DAVENPORT & Co LLC now owns 1,868,697 shares of the company’s stock valued at $47,014,000 after acquiring an additional 83,753 shares during the period. Finally, Texas Permanent School Fund Corp increased its stake in Verra Mobility by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 145,556 shares of the company’s stock worth $3,635,000 after acquiring an additional 1,939 shares during the last quarter.

Verra Mobility Trading Down 11.0 %

The company has a market capitalization of $3.81 billion, a PE 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 business has a fifty day moving average price of $27.03 and a 200 day moving average price of $27.10.

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

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.