Verra Mobility (NASDAQ:VRRM) Price Target Lowered to $29.00 at Deutsche Bank Aktiengesellschaft

Verra Mobility (NASDAQ:VRRM) had its price target trimmed by Deutsche Bank Aktiengesellschaft from $31.00 to $29.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday. Morgan Stanley cut their price objective on shares of Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday.

Verra Mobility Trading Down 11.0 %

NASDAQ VRRM traded down $2.85 on Friday, reaching $23.12. The company had a trading volume of 4,324,178 shares, compared to its average volume of 1,059,778. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 38.53, a P/E/G ratio of 1.72 and a beta of 1.27. Verra Mobility has a fifty-two week low of $18.76 and a fifty-two week high of $31.03. The business has a 50 day moving average of $27.03 and a two-hundred day moving average of $27.10. The company has a debt-to-equity ratio of 2.36, a current ratio of 2.57 and a quick ratio of 2.47.

Verra Mobility (NASDAQ:VRRM) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $222.43 million for the quarter, compared to analysts’ expectations of $220.32 million. Verra Mobility had a net margin of 11.34% and a return on equity of 39.89%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Analysts forecast that Verra Mobility will post 1.07 EPS for the current year.

Hedge Funds Weigh In On Verra Mobility

Large investors have recently added to or reduced their stakes in the business. Quest Partners LLC lifted its position in Verra Mobility by 1,732.7% in the 2nd quarter. Quest Partners LLC now owns 1,008 shares of the company’s stock valued at $27,000 after acquiring an additional 953 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Verra Mobility in the 1st quarter valued at about $26,000. Signaturefd LLC increased its stake in Verra Mobility by 112.4% in the 3rd quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock valued at $29,000 after buying an additional 561 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in Verra Mobility in the 1st quarter valued at about $74,000. Finally, Montag A & Associates Inc. increased its stake in Verra Mobility by 17.1% in the 1st quarter. Montag A & Associates Inc. now owns 3,045 shares of the company’s stock valued at $76,000 after buying an additional 445 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.