Vertiv (NYSE:VRT) Stock Price Down 9.1% After Analyst Downgrade

Vertiv Holdings Co (NYSE:VRTGet Rating)’s share price was down 9.1% during trading on Friday after Cowen lowered their price target on the stock from $12.75 to $11.75. The stock traded as low as $9.98 and last traded at $10.03. Approximately 111,871 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 2,803,957 shares. The stock had previously closed at $11.03.

Several other equities analysts have also weighed in on the stock. Mizuho cut their target price on shares of Vertiv from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, July 18th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Vertiv from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. Citigroup lifted their price target on Vertiv from $14.00 to $15.00 in a report on Thursday, August 4th. TheStreet upgraded shares of Vertiv from a “d” rating to a “c” rating in a report on Thursday, September 15th. Finally, Cowen cut their price target on shares of Vertiv from $12.75 to $11.75 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.75.

Hedge Funds Weigh In On Vertiv

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Standard Family Office LLC purchased a new position in Vertiv in the fourth quarter worth $26,000. Brown Brothers Harriman & Co. raised its holdings in shares of Vertiv by 648.5% during the 1st quarter. Brown Brothers Harriman & Co. now owns 2,500 shares of the company’s stock valued at $35,000 after buying an additional 2,166 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in shares of Vertiv in the 1st quarter worth approximately $85,000. Lebenthal Global Advisors LLC acquired a new position in Vertiv during the 2nd quarter valued at approximately $87,000. Finally, Cutter & CO Brokerage Inc. acquired a new position in Vertiv during the 2nd quarter valued at approximately $97,000. 88.42% of the stock is owned by institutional investors and hedge funds.

Vertiv Stock Down 8.2 %

The company has a current ratio of 1.55, a quick ratio of 1.11 and a debt-to-equity ratio of 2.31. The stock has a 50-day moving average of $11.86 and a 200-day moving average of $11.48. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 336.33, a price-to-earnings-growth ratio of 1.36 and a beta of 1.40.

Vertiv (NYSE:VRTGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. Vertiv had a return on equity of 7.73% and a net margin of 2.06%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business earned $0.31 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertiv Holdings Co will post 0.61 EPS for the current fiscal year.

Vertiv Company Profile

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Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments. It offers AC and DC power management products, thermal management products, integrated rack systems, modular solutions, and management systems for monitoring and controlling digital infrastructure that are integral to the technologies used for various services, including e-commerce, online banking, file sharing, video on-demand, energy storage, wireless communications, Internet of Things, and online gaming.

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