Verra Mobility (NASDAQ:VRRM) Price Target Lowered to $25.00 at Morgan Stanley

Verra Mobility (NASDAQ:VRRM - Free Report) had its target price reduced by Morgan Stanley from $26.00 to $25.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages have also recently issued reports on VRRM. Robert W. Baird boosted their price objective on Verra Mobility from $28.00 to $29.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price objective on Verra Mobility from $28.00 to $31.00 and gave the company a "buy" rating in a report on Friday, August 9th.

Verra Mobility Stock Down 0.3 %

NASDAQ VRRM traded down $0.07 during trading hours on Wednesday, hitting $26.32. 965,001 shares of the company traded hands, compared to its average volume of 1,044,538. 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's 50-day moving average is $27.15 and its 200-day moving average is $27.12. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 52.64, a P/E/G ratio of 1.73 and a beta of 1.27. Verra Mobility has a twelve month low of $18.76 and a twelve month high of $31.03.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.01. The business had revenue of $222.43 million for the quarter, compared to the consensus estimate of $220.32 million. Verra Mobility had a net margin of 11.34% and a return on equity of 39.89%. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. Sell-side analysts anticipate that Verra Mobility will post 1.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Verra Mobility during the 1st quarter worth approximately $26,000. Braun Stacey Associates Inc. boosted its holdings in shares of Verra Mobility by 6.5% in the 1st quarter. Braun Stacey Associates Inc. now owns 139,445 shares of the company's stock valued at $3,482,000 after purchasing an additional 8,545 shares in the last quarter. BNP Paribas Financial Markets increased its stake 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 valued at $3,618,000 after purchasing an additional 30,548 shares during the last quarter. RiverPark Advisors LLC raised its holdings in shares of Verra Mobility by 245.9% during the 1st quarter. RiverPark Advisors LLC now owns 16,946 shares of the company's stock worth $423,000 after buying an additional 12,047 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its position in shares of Verra Mobility by 4.7% during the 1st quarter. DAVENPORT & Co LLC now owns 1,868,697 shares of the company's stock worth $47,014,000 after buying an additional 83,753 shares during the last quarter.

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.