Brokerages Set Verra Mobility Corp (NASDAQ:VRRM) Price Target at $7.00

Shares of Verra Mobility Corp (NASDAQ:VRRM) have received a consensus recommendation of “Reduce” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $7.00.

A number of research firms have weighed in on VRRM. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $9.00 target price (down from $22.00) on shares of Verra Mobility in a report on Wednesday, May 27th. Weiss Ratings cut Verra Mobility from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 17th. Wall Street Zen lowered Verra Mobility from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research upgraded shares of Verra Mobility from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. raised shares of Verra Mobility from an “underweight” rating to a “neutral” rating and increased their price target for the company from $5.00 to $6.00 in a research report on Monday, July 13th.

Verra Mobility Stock Down 3.3%

NASDAQ:VRRM opened at $4.45 on Friday. The company has a debt-to-equity ratio of 4.58, a current ratio of 2.06 and a quick ratio of 1.96. Verra Mobility has a 1-year low of $3.40 and a 1-year high of $25.57. The company has a 50-day moving average of $4.54 and a 200 day moving average of $10.95. The firm has a market cap of $676.31 million, a PE ratio of 17.12 and a beta of 0.40.

Verra Mobility (NASDAQ:VRRM) last posted its quarterly earnings results 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 net margin of 4.40% and a return on equity of 64.39%. The business had revenue of $263.59 million during the quarter, compared to analyst estimates of $254.81 million. During the same quarter in the previous year, the business posted $0.34 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, research analysts anticipate that Verra Mobility will post 1.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Verra Mobility

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in shares of Verra Mobility during the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd grew its stake in Verra Mobility by 967.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,260 shares of the company’s stock worth $28,000 after buying an additional 1,142 shares during the last quarter. Salomon & Ludwin LLC grew its stake in Verra Mobility by 100.7% during the 4th quarter. Salomon & Ludwin LLC now owns 1,497 shares of the company’s stock worth $34,000 after buying an additional 751 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Verra Mobility by 439.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the company’s stock valued at $38,000 after buying an additional 1,217 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in Verra Mobility by 190.4% in the second quarter. Versant Capital Management Inc now owns 10,378 shares of the company’s stock valued at $44,000 after buying an additional 6,804 shares during the last quarter.

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.