Verra Mobility (NASDAQ:VRRM) Price Target Cut to $28.00 by Analysts at Robert W. Baird

Verra Mobility (NASDAQ:VRRM) had its price objective decreased by Robert W. Baird from $29.00 to $28.00 in a research report sent to investors on Friday, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

A number of other brokerages have also recently commented on VRRM. Deutsche Bank Aktiengesellschaft upped their price target on shares of Verra Mobility from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Morgan Stanley decreased their price target on shares of Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday.

Verra Mobility Stock Performance

Shares of VRRM traded down $2.85 during mid-day trading on Friday, hitting $23.12. 4,324,178 shares of the company’s stock were exchanged, compared to its average volume of 1,059,778. The stock’s 50-day simple moving average is $27.03 and its 200-day simple moving average is $27.10. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 1.72 and a beta of 1.27. The company has a quick ratio of 2.47, a current ratio of 2.57 and a debt-to-equity ratio of 2.36. Verra Mobility has a 52 week low of $18.76 and a 52 week high of $31.03.

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

Hedge Funds Weigh In On Verra Mobility

Several large investors have recently added to or reduced their stakes in VRRM. Allspring Global Investments Holdings LLC bought a new position in Verra Mobility during the first quarter valued at $26,000. Quest Partners LLC lifted its position in shares of Verra Mobility by 1,732.7% during the second quarter. Quest Partners LLC now owns 1,008 shares of the company’s stock valued at $27,000 after buying an additional 953 shares during the last quarter. Signaturefd LLC lifted its position in shares of Verra Mobility by 112.4% during the third 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 position in shares of Verra Mobility in the 1st quarter valued at approximately $74,000. Finally, Montag A & Associates Inc. raised its position in shares of 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 purchasing an additional 445 shares during the last quarter.

About Verra Mobility

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.