Citigroup Forecasts Strong Price Appreciation for Vertiv (NYSE:VRT) Stock

Vertiv (NYSE:VRT) had its target price increased by equities researchers at Citigroup from $134.00 to $141.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 2.50% from the company’s previous close.

Several other research analysts have also issued reports on VRT. Bank of America increased their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Mizuho increased their price objective on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday. The Goldman Sachs Group boosted their target price on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday. TD Cowen upped their target price on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, UBS Group began coverage on shares of Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target for the company. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $138.50.

Vertiv Price Performance

Shares of Vertiv stock opened at $137.56 on Tuesday. The company has a market cap of $51.63 billion, a PE ratio of 91.71, a P/E/G ratio of 1.31 and a beta of 1.58. The business has a 50 day moving average of $108.75 and a 200 day moving average of $94.57. Vertiv has a 52 week low of $41.01 and a 52 week high of $141.76. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the company posted $0.52 EPS. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. As a group, equities research analysts forecast that Vertiv will post 2.69 earnings per share for the current year.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 directly owns 10,542 shares in the company, valued at $843,254.58. The trade was a 80.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

Institutional investors and hedge funds have recently modified their holdings of the business. Anchor Investment Management LLC purchased a new stake in shares of Vertiv during the second quarter valued at $26,000. Mather Group LLC. lifted its stake in Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares during the period. Krane Funds Advisors LLC purchased a new stake in shares of Vertiv during the 3rd quarter valued at about $29,000. Global Trust Asset Management LLC purchased a new stake in shares of Vertiv during the 3rd quarter valued at about $30,000. Finally, Mark Sheptoff Financial Planning LLC grew its stake in shares of Vertiv by 200.0% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the period. Institutional investors own 89.92% of the company’s stock.

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.