Bank of America Issues Positive Forecast for Vertiv (NYSE:VRT) Stock Price

Vertiv (NYSE:VRT) had its target price hoisted by equities research analysts at Bank of America from $140.00 to $150.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 19.62% from the company’s current price.

A number of other research firms have also recently commented on VRT. Wolfe Research reiterated an “outperform” rating and issued a $155.00 price objective on shares of Vertiv in a report on Thursday, July 10th. JPMorgan Chase & Co. upped their price target on Vertiv from $100.00 to $127.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Melius Research upgraded Vertiv from a “hold” rating to a “strong-buy” rating and upped their price target for the stock from $134.00 to $165.00 in a research note on Tuesday, July 8th. Melius upgraded Vertiv from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a research note on Tuesday, July 8th. Finally, Evercore ISI restated an “outperform” rating on shares of Vertiv in a research note on Thursday, July 10th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $136.24.

Vertiv Price Performance

VRT stock opened at $125.40 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28. The business has a 50 day simple moving average of $114.73 and a 200-day simple moving average of $103.93. The firm has a market capitalization of $47.79 billion, a PE ratio of 72.90, a price-to-earnings-growth ratio of 1.27 and a beta of 1.75. Vertiv has a 1 year low of $53.60 and a 1 year high of $155.84.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the firm posted $0.43 earnings per share. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. Equities research analysts anticipate that Vertiv will post 3.59 earnings per share for the current fiscal year.

Insider Activity

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the transaction, the executive vice president owned 9,551 shares of the company’s stock, valued at approximately $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Karsten Winther sold 5,500 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the transaction, the insider directly owned 18,847 shares in the company, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.63% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Several hedge funds have recently made changes to their positions in VRT. GW&K Investment Management LLC acquired a new stake in shares of Vertiv during the first quarter worth about $26,000. SouthState Corp acquired a new stake in shares of Vertiv during the first quarter worth about $27,000. North Star Investment Management Corp. lifted its position in Vertiv by 4,120.0% in the first quarter. North Star Investment Management Corp. now owns 422 shares of the company’s stock valued at $30,000 after purchasing an additional 412 shares during the period. Sachetta LLC lifted its position in Vertiv by 242.0% in the first quarter. Sachetta LLC now owns 448 shares of the company’s stock valued at $32,000 after purchasing an additional 317 shares during the period. Finally, Banque Transatlantique SA acquired a new stake in Vertiv in the first quarter valued at about $33,000. 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.