Vertiv (NYSE:VRT) Price Target Increased to $95.00 by Analysts at Evercore ISI

Vertiv (NYSE:VRT) had its target price hoisted by research analysts at Evercore ISI from $90.00 to $95.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price target would indicate a potential upside of 7.56% from the company’s current price.

Several other brokerages have also weighed in on VRT. Citigroup upped their target price on Vertiv from $69.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Mizuho boosted their price target on Vertiv from $50.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Oppenheimer increased their price target on Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America raised their price target on shares of Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.89.

Vertiv Stock Performance

NYSE VRT traded up $3.75 during trading on Thursday, reaching $88.32. The company’s stock had a trading volume of 6,291,772 shares, compared to its average volume of 7,850,342. Vertiv has a twelve month low of $13.06 and a twelve month high of $94.39. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.35 and a current ratio of 1.74. The business’s fifty day moving average price is $75.35 and its 200-day moving average price is $56.87. The firm has a market cap of $33.74 billion, a price-to-earnings ratio of 76.43, a P/E/G ratio of 1.26 and a beta of 1.59.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. Vertiv’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 earnings per share. As a group, analysts anticipate that Vertiv will post 2.36 EPS for the current fiscal year.

Insider Activity at Vertiv

In related news, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the transaction, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. 5.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vertiv

Several hedge funds have recently made changes to their positions in VRT. FMR LLC boosted its holdings in shares of Vertiv by 182.4% in the third quarter. FMR LLC now owns 47,236,496 shares of the company’s stock valued at $1,757,198,000 after acquiring an additional 30,511,907 shares in the last quarter. Norges Bank purchased a new stake in Vertiv in the 4th quarter valued at about $185,339,000. Vanguard Group Inc. raised its position in shares of Vertiv by 12.1% during the 3rd quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company’s stock valued at $1,176,590,000 after buying an additional 3,417,710 shares in the last quarter. Coatue Management LLC increased its stake in shares of Vertiv by 19.5% during the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in Vertiv by 1,032.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,258,888 shares of the company’s stock valued at $84,031,000 after acquiring an additional 2,059,431 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Company Profile

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 in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.