Vertiv (NYSE:VRT) Price Target Increased to $121.00 by Analysts at Oppenheimer

Vertiv (NYSE:VRT) had its target price boosted by Oppenheimer from $115.00 to $121.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 10.25% from the company’s previous close.

Several other research firms have also issued reports on VRT. Evercore ISI raised their price objective on Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. TD Cowen raised their price objective on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Citigroup raised their price objective on Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group lowered their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, Jefferies Financial Group assumed coverage on Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv currently has a consensus rating of “Buy” and an average price target of $119.67.

Vertiv Price Performance

Vertiv stock traded up $1.39 during midday trading on Thursday, reaching $109.75. 3,192,642 shares of the stock traded hands, compared to its average volume of 8,361,276. The stock’s fifty day moving average is $92.37 and its 200-day moving average is $89.83. Vertiv has a 12 month low of $34.60 and a 12 month high of $116.41. The stock has a market cap of $41.08 billion, a P/E ratio of 105.53, a PEG ratio of 1.42 and a beta of 1.59. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The firm’s revenue was up 19.0% on a year-over-year basis. As a group, equities research analysts anticipate that Vertiv will post 2.58 EPS for the current year.

Insiders Place Their Bets

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vertiv

Several large investors have recently bought and sold shares of VRT. Kingswood Wealth Advisors LLC purchased a new stake in Vertiv during the 1st quarter worth approximately $496,000. Wealthcare Advisory Partners LLC grew its position in shares of Vertiv by 2.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 13,794 shares of the company’s stock valued at $1,127,000 after purchasing an additional 273 shares in the last quarter. Independence Bank of Kentucky grew its position in shares of Vertiv by 666.7% in the first quarter. Independence Bank of Kentucky now owns 1,150 shares of the company’s stock valued at $94,000 after purchasing an additional 1,000 shares in the last quarter. Hodges Capital Management Inc. purchased a new stake in shares of Vertiv in the first quarter valued at approximately $255,000. Finally, Atticus Wealth Management LLC purchased a new stake in shares of Vertiv in the first quarter valued at approximately $27,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

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.