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

Verra Mobility Co. (NASDAQ:VRRM - Get Free Report) gapped down prior to trading 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 trading hands.

Several other research firms also recently weighed in on VRRM. Robert W. Baird dropped their price target on Verra Mobility from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Friday. Morgan Stanley cut their target price on shares of Verra Mobility from $26.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday.

Institutional Investors Weigh In On Verra Mobility

Hedge funds and other institutional investors have recently made changes to their positions in the business. Crossmark Global Holdings Inc. grew its holdings in Verra Mobility by 1.5% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 27,283 shares of the company's stock valued at $742,000 after buying an additional 391 shares during the period. US Bancorp DE increased its holdings in Verra Mobility by 10.3% during the 3rd quarter. US Bancorp DE now owns 4,478 shares of the company's stock worth $125,000 after purchasing an additional 418 shares during the last quarter. Montag A & Associates Inc. increased its position in shares of Verra Mobility by 17.1% in the 1st quarter. Montag A & Associates Inc. now owns 3,045 shares of the company's stock worth $76,000 after purchasing an additional 445 shares during the last quarter. Signaturefd LLC increased its holdings in Verra Mobility by 112.4% in the third quarter. Signaturefd LLC now owns 1,060 shares of the company's stock valued at $29,000 after buying an additional 561 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Verra Mobility by 27.5% during the third quarter. Blue Trust Inc. now owns 3,219 shares of the company's stock valued at $88,000 after buying an additional 694 shares in the last quarter.

Verra Mobility Trading Down 10.1 %

The firm has a 50-day moving average price of $27.15 and a 200 day moving average price of $27.12. The company has a current ratio of 2.57, a quick ratio of 2.47 and a debt-to-equity ratio of 2.36. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 41.37, a price-to-earnings-growth ratio of 1.72 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced 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 company had revenue of $222.43 million during the quarter, compared to analyst estimates of $220.32 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The firm's quarterly revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts forecast that Verra Mobility Co. will post 1.07 EPS for the current 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.