Oppenheimer Increases Vertiv (NYSE:VRT) Price Target to $140.00

Vertiv (NYSE:VRT) had its price objective raised by Oppenheimer from $132.00 to $140.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 11.65% from the stock’s previous close.

VRT has been the topic of several other research reports. UBS Group reiterated a “buy” rating on shares of Vertiv in a research report on Friday, July 11th. Barclays lifted their price target on Vertiv from $90.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. Morgan Stanley cut their price target on Vertiv from $140.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Roth Mkm started coverage on Vertiv in a report on Tuesday, April 8th. They issued a “buy” rating and a $75.00 target price for the company. Finally, Melius raised Vertiv from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a research report on Tuesday, July 8th. 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. According to data from MarketBeat, Vertiv has an average rating of “Buy” and an average target price of $136.76.

Vertiv Price Performance

NYSE VRT opened at $125.40 on Thursday. The business has a 50 day simple moving average of $114.73 and a 200 day simple moving average of $103.93. Vertiv has a 52-week low of $53.60 and a 52-week high of $155.84. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.28 and a current ratio of 1.72. The stock has a market cap of $47.79 billion, a price-to-earnings ratio of 72.90, a PEG ratio of 1.27 and a beta of 1.75.

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

Insider Activity

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

Institutional Trading of Vertiv

Hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC lifted its holdings in shares of Vertiv by 94.7% during the fourth quarter. Corient Private Wealth LLC now owns 28,872 shares of the company’s stock worth $3,280,000 after buying an additional 14,042 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Vertiv by 42.4% in the 4th quarter. Parallel Advisors LLC now owns 4,829 shares of the company’s stock valued at $549,000 after acquiring an additional 1,437 shares in the last quarter. Signaturefd LLC increased its stake in shares of Vertiv by 7.6% in the 4th quarter. Signaturefd LLC now owns 7,068 shares of the company’s stock valued at $803,000 after acquiring an additional 501 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in Vertiv by 7.9% during the 4th quarter. Axxcess Wealth Management LLC now owns 7,964 shares of the company’s stock valued at $905,000 after purchasing an additional 580 shares in the last quarter. Finally, Horizon Investments LLC grew its stake in shares of Vertiv by 21.9% in the 4th quarter. Horizon Investments LLC now owns 1,787 shares of the company’s stock worth $203,000 after acquiring an additional 321 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

About Vertiv

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.