Verra Mobility (NASDAQ:VRRM) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Verra Mobility (NASDAQ:VRRM) from a strong sell rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on VRRM. Robert W. Baird cut their price target on Verra Mobility from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. CJS Securities lowered shares of Verra Mobility from a “market outperform” rating to a “market perform” rating and set a $10.00 price objective on the stock. in a research report on Wednesday, May 27th. William Blair lowered shares of Verra Mobility from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 27th. Northcoast Research reissued a “neutral” rating on shares of Verra Mobility in a research note on Wednesday, May 27th. Finally, UBS Group upped their price objective on shares of Verra Mobility from $4.00 to $6.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $7.00.

Verra Mobility Stock Performance

Shares of VRRM stock opened at $4.72 on Thursday. The stock has a market capitalization of $717.00 million, a PE ratio of 18.15 and a beta of 0.41. Verra Mobility has a 52-week low of $3.40 and a 52-week high of $25.57. The stock’s 50-day moving average price is $4.54 and its 200 day moving average price is $11.23. The company has a quick ratio of 1.96, a current ratio of 2.06 and a debt-to-equity ratio of 4.58.

Verra Mobility (NASDAQ:VRRM) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. Verra Mobility had a return on equity of 64.39% and a net margin of 4.40%.The firm had revenue of $263.59 million during the quarter, compared to the consensus estimate of $254.81 million. During the same period in the prior year, the business earned $0.34 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts forecast that Verra Mobility will post 1.1 EPS for the current year.

Hedge Funds Weigh In On Verra Mobility

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Verra Mobility during the 4th quarter worth approximately $68,608,000. River Road Asset Management LLC boosted its stake in shares of Verra Mobility by 441.6% in the fourth quarter. River Road Asset Management LLC now owns 2,984,760 shares of the company’s stock valued at $66,888,000 after buying an additional 2,433,610 shares in the last quarter. Morgan Stanley boosted its stake in shares of Verra Mobility by 44.8% in the fourth quarter. Morgan Stanley now owns 4,194,005 shares of the company’s stock valued at $93,988,000 after buying an additional 1,296,602 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Verra Mobility by 71.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,924,781 shares of the company’s stock worth $65,544,000 after acquiring an additional 1,222,116 shares during the period. Finally, Jane Street Group LLC grew its holdings in Verra Mobility by 188.7% during the fourth quarter. Jane Street Group LLC now owns 1,210,330 shares of the company’s stock worth $27,123,000 after acquiring an additional 791,146 shares during the period.

Verra Mobility Company Profile

Verra Mobility, traded on the Nasdaq under the ticker VRRM, is a leading provider of smart mobility solutions designed to improve safety, efficiency and compliance for transportation authorities and commercial fleets. The company develops and operates automated traffic enforcement systems, toll and violation management platforms, and connected-vehicle services. Through its technology offerings, Verra Mobility helps public agencies enhance road safety, reduce congestion and streamline revenue collection for tolling and parking.

Verra Mobility’s core products include red-light and speed-camera enforcement programs, license plate recognition systems, and cloud-based violation processing software.