Morgan Stanley Issues Pessimistic Forecast for Verra Mobility (NASDAQ:VRRM) Stock Price

Verra Mobility (NASDAQ:VRRM) had its price objective reduced by Morgan Stanley from $26.00 to $25.00 in a report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Verra Mobility from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Robert W. Baird upped their target price on shares of Verra Mobility from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th.

Verra Mobility Stock Performance

Shares of NASDAQ VRRM opened at $23.12 on Wednesday. The company has a quick ratio of 2.47, a current ratio of 2.57 and a debt-to-equity ratio of 2.36. The firm’s 50-day moving average price is $27.03 and its two-hundred day moving average price is $27.10. Verra Mobility has a 52-week low of $18.76 and a 52-week high of $31.03. The stock has a market capitalization of $3.81 billion, a P/E ratio of 40.56, a P/E/G ratio of 1.72 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $222.43 million for the quarter, compared to the consensus estimate of $220.32 million. Verra Mobility had a return on equity of 39.89% and a net margin of 11.34%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. As a group, sell-side analysts forecast that Verra Mobility will post 1.07 earnings per share for the current year.

Institutional Investors Weigh In On Verra Mobility

A number of hedge funds and other institutional investors have recently modified their holdings of VRRM. Crossmark Global Holdings Inc. increased its stake in Verra Mobility by 1.5% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 27,283 shares of the company’s stock valued at $742,000 after buying an additional 391 shares during the period. US Bancorp DE increased its stake in shares of Verra Mobility by 10.3% during the third quarter. US Bancorp DE now owns 4,478 shares of the company’s stock valued at $125,000 after acquiring an additional 418 shares during the period. Montag A & Associates Inc. raised its holdings in Verra Mobility by 17.1% during the first quarter. Montag A & Associates Inc. now owns 3,045 shares of the company’s stock worth $76,000 after purchasing an additional 445 shares in the last quarter. Signaturefd LLC lifted its position in Verra Mobility by 112.4% in the third quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock worth $29,000 after purchasing an additional 561 shares during the period. Finally, Blue Trust Inc. boosted its stake in Verra Mobility by 27.5% during the 3rd quarter. Blue Trust Inc. now owns 3,219 shares of the company’s stock valued at $88,000 after purchasing an additional 694 shares in 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.