Verra Mobility (NASDAQ:VRRM) Cut to Underweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Verra Mobility (NASDAQ:VRRM) from a neutral rating to an underweight rating in a research report released on Tuesday morning, MarketBeat Ratings reports.

Several other research analysts also recently issued reports on the company. UBS Group upped their price objective on Verra Mobility from $4.00 to $6.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Verra Mobility in a research report on Monday, September 14th. Zacks Research raised Verra Mobility from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Morgan Stanley set a $5.00 target price on Verra Mobility in a research report on Thursday, August 6th. Eight analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $6.50.

Verra Mobility Price Performance

Shares of VRRM stock opened at $2.32 on Tuesday. Verra Mobility has a 1 year low of $2.26 and a 1 year high of $23.50. The firm’s 50 day moving average is $3.28 and its 200-day moving average is $9.19. The firm has a market capitalization of $352.59 million, a price-to-earnings ratio of 9.67 and a beta of 0.45. The company has a current ratio of 2.05, a quick ratio of 1.97 and a debt-to-equity ratio of 3.86.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings results on Friday, October 30th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.26 by $0.10. The business had revenue of $258.88 million for the quarter, compared to analysts’ expectations of $240.57 million. Verra Mobility had a net margin of 3.77% and a return on equity of 71.65%. Verra Mobility’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 earnings per share. Sell-side analysts forecast that Verra Mobility will post 1.10 EPS for the current fiscal year.

Hedge Funds Weigh In On Verra Mobility

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lido Advisors LLC boosted its position in shares of Verra Mobility by 89.0% in the 3rd quarter. Lido Advisors LLC now owns 44,522 shares of the company’s stock worth $138,000 after purchasing an additional 20,966 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of Verra Mobility during the third quarter worth $401,000. 180 Wealth Advisors LLC grew its stake in shares of Verra Mobility by 74.7% during the third quarter. 180 Wealth Advisors LLC now owns 225,897 shares of the company’s stock worth $700,000 after purchasing an additional 96,622 shares during the period. CenterBook Partners LP bought a new stake in Verra Mobility in the third quarter valued at about $1,366,000. Finally, Prescott Group Capital Management L.L.C. increased its holdings in Verra Mobility by 130.9% in the third quarter. Prescott Group Capital Management L.L.C. now owns 666,350 shares of the company’s stock valued at $2,066,000 after purchasing an additional 377,823 shares during the last quarter.

Verra Mobility Company Profile

Verra Mobility Corporation (NASDAQ:VRRM) provides smart mobility technology and services designed to improve transportation safety, efficiency and compliance. The company develops cloud-based solutions that help government agencies, commercial fleets and mobility providers manage transportation-related processes and data.

Its government solutions include automated safety enforcement programs for red-light, speed, school-zone and bus-lane violations, as well as technology supporting school bus safety initiatives.