Morgan Stanley Cuts Verra Mobility (NASDAQ:VRRM) Price Target to $23.00

Verra Mobility (NASDAQ:VRRM) had its price objective cut by stock analysts at Morgan Stanley from $25.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 13.92% from the stock’s current price.

Verra Mobility Price Performance

Shares of NASDAQ:VRRM opened at $20.19 on Thursday. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.18 and a beta of 1.30. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52. Verra Mobility has a 12 month low of $19.51 and a 12 month high of $31.03. The stock’s 50 day moving average price is $24.03 and its 200 day moving average price is $24.77.

Institutional Trading of Verra Mobility

Several institutional investors have recently modified their holdings of VRRM. Vanguard Group Inc. lifted its stake in Verra Mobility by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 17,612,101 shares of the company’s stock valued at $425,861,000 after purchasing an additional 159,348 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Verra Mobility by 10.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,111,775 shares of the company’s stock valued at $220,323,000 after buying an additional 837,648 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Verra Mobility by 13.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,065,795 shares of the company’s stock valued at $224,310,000 after acquiring an additional 941,127 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Verra Mobility by 0.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,463,246 shares of the company’s stock worth $179,743,000 after acquiring an additional 36,585 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Verra Mobility by 6.0% in the 3rd quarter. State Street Corp now owns 6,301,131 shares of the company’s stock worth $175,234,000 after acquiring an additional 357,078 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.