Verra Mobility (NASDAQ:VRRM) Downgraded by Zacks Investment Research

Verra Mobility (NASDAQ:VRRM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “Verra Mobility Corporation designs and develops mobility software. The Company offers speed, bus lane, railroad crossing, and school bus top arm enforcement and enforcement ticketing, as well as crash reports and video-enabled crime data analysis solutions. Verra Mobility Corporation, formerly known as Gores Holdings II Inc., is based in CA, United States. “

Several other research firms have also recently commented on VRRM. BTIG Research began coverage on shares of Verra Mobility in a research note on Wednesday, March 27th. They issued a “buy” rating and a $15.00 target price for the company. ValuEngine downgraded shares of Zogenix from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 11th. William Blair started coverage on shares of Verra Mobility in a report on Wednesday, April 24th. They set an “outperform” rating and a $13.08 target price for the company. Finally, Robert W. Baird set a $25.00 price target on shares of Actuant and gave the stock a “buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $15.03.

VRRM traded down $0.06 during trading hours on Friday, hitting $13.81. 19,149 shares of the company’s stock were exchanged, compared to its average volume of 1,714,466. Verra Mobility has a 12-month low of $9.00 and a 12-month high of $15.07. The stock’s 50 day moving average price is $13.11. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -20.61 and a beta of 0.40. The company has a debt-to-equity ratio of 2.82, a quick ratio of 2.44 and a current ratio of 2.44.

Verra Mobility (NASDAQ:VRRM) last issued its earnings results on Monday, May 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.07. The company had revenue of $98.46 million during the quarter, compared to analyst estimates of $91.60 million. Analysts predict that Verra Mobility will post 0.8 earnings per share for the current fiscal year.

In related news, Director Platinum Equity Llc sold 2,250,000 shares of Verra Mobility stock in a transaction on Monday, July 8th. The shares were sold at an average price of $12.13, for a total value of $27,292,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Verra Mobility in the 4th quarter worth about $2,959,000. Bank of New York Mellon Corp acquired a new stake in Verra Mobility in the fourth quarter valued at approximately $575,000. Raymond James & Associates acquired a new stake in shares of Verra Mobility during the fourth quarter worth $1,290,000. Northern Trust Corp acquired a new stake in shares of Verra Mobility during the fourth quarter worth $2,472,000. Finally, United Services Automobile Association acquired a new stake in shares of Verra Mobility during the fourth quarter worth $112,000. 42.43% of the stock is owned by institutional investors.

About Verra Mobility

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Canada, and Europe. It operates through two segments, Government Solutions and Commercial Services. The Government Solutions segment offers automated safety solutions, including services and technologies that enable photo enforcement through road safety camera programs related to red light, speed, school bus, and city bus lanes.

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