Wall Street Zen Downgrades VERRA MOBILITY (NASDAQ:VRRM) to Buy

Wall Street Zen downgraded shares of VERRA MOBILITY (NASDAQ:VRRM) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

VRRM has been the topic of several other research reports. Baird R W raised VERRA MOBILITY from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 22nd. Robert W. Baird lifted their price objective on VERRA MOBILITY from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Finally, UBS Group decreased their price objective on VERRA MOBILITY from $31.50 to $29.50 and set a “buy” rating on the stock in a report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $27.38.

VERRA MOBILITY Stock Performance

VRRM opened at $24.97 on Friday. VERRA MOBILITY has a 12-month low of $19.51 and a 12-month high of $30.71. The firm has a market capitalization of $3.98 billion, a P/E ratio of 124.85, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. The stock’s 50 day moving average price is $24.54 and its two-hundred day moving average price is $23.83. The company has a quick ratio of 2.10, a current ratio of 2.19 and a debt-to-equity ratio of 3.45.

VERRA MOBILITY (NASDAQ:VRRM) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.01. VERRA MOBILITY had a return on equity of 51.05% and a net margin of 3.88%. The company had revenue of $223.25 million for the quarter, compared to analyst estimates of $216.94 million. During the same quarter last year, the firm earned $0.27 EPS. VERRA MOBILITY’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that VERRA MOBILITY will post 1.08 earnings per share for the current year.

Insider Activity at VERRA MOBILITY

In related news, insider Jonathan Keyser sold 18,719 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $24.28, for a total transaction of $454,497.32. Following the completion of the transaction, the insider owned 1,179 shares in the company, valued at $28,626.12. This trade represents a 94.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On VERRA MOBILITY

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of VERRA MOBILITY by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 17,612,101 shares of the company’s stock worth $425,861,000 after buying an additional 159,348 shares during the period. Price T Rowe Associates Inc. MD raised its position in VERRA MOBILITY by 12.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,265,348 shares of the company’s stock valued at $231,074,000 after purchasing an additional 1,153,573 shares during the last quarter. Wellington Management Group LLP raised its position in VERRA MOBILITY by 5.1% in the 1st quarter. Wellington Management Group LLP now owns 7,922,473 shares of the company’s stock valued at $178,335,000 after purchasing an additional 386,760 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in VERRA MOBILITY by 155.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,280,591 shares of the company’s stock valued at $118,866,000 after purchasing an additional 3,215,973 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its position in VERRA MOBILITY by 9.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 4,873,442 shares of the company’s stock valued at $109,701,000 after purchasing an additional 412,649 shares during the last quarter.

VERRA MOBILITY Company Profile

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.