Verra Mobility (NASDAQ:VRRM) PT Raised to $29.00

Verra Mobility (NASDAQ:VRRM) had its price target hoisted by equities researchers at Robert W. Baird from $28.00 to $29.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 5.30% from the company’s current price.

Other analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Verra Mobility from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Morgan Stanley increased their target price on shares of Verra Mobility from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 6th.

Verra Mobility Price Performance

Shares of NASDAQ:VRRM opened at $27.54 on Monday. The company’s fifty day moving average is $27.33 and its two-hundred day moving average is $26.94. The company has a market cap of $4.59 billion, a P/E ratio of 55.08, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. Verra Mobility has a 12-month low of $18.76 and a 12-month high of $31.03. The company has a quick ratio of 2.47, a current ratio of 2.57 and a debt-to-equity ratio of 2.36.

Verra Mobility (NASDAQ:VRRM) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.31 earnings per share for the quarter, beating 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 return on equity of 39.89% and a net margin of 11.34%. Verra Mobility’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. Equities analysts expect that Verra Mobility will post 1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Verra Mobility

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Verra Mobility by 1.3% during the first quarter. Vanguard Group Inc. now owns 17,466,733 shares of the company’s stock valued at $436,144,000 after acquiring an additional 231,566 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of Verra Mobility in the 1st quarter valued at $782,000. BNP Paribas Financial Markets boosted its holdings in Verra Mobility by 26.7% in the first quarter. BNP Paribas Financial Markets now owns 144,906 shares of the company’s stock worth $3,618,000 after purchasing an additional 30,548 shares in the last quarter. Jupiter Asset Management Ltd. boosted its holdings in Verra Mobility by 51.5% in the first quarter. Jupiter Asset Management Ltd. now owns 1,083,037 shares of the company’s stock worth $27,043,000 after purchasing an additional 367,976 shares in the last quarter. Finally, Swedbank AB acquired a new position in Verra Mobility during the first quarter worth $26,218,000.

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.