Evercore ISI Reaffirms “Outperform” Rating for Vertiv (NYSE:VRT)

Vertiv (NYSE:VRT)‘s stock had its “outperform” rating reaffirmed by investment analysts at Evercore ISI in a report released on Thursday, Benzinga reports. They presently have a $105.00 price objective on the stock. Evercore ISI’s target price would suggest a potential upside of 27.66% from the company’s previous close.

VRT has been the topic of several other reports. Oppenheimer lifted their price target on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Bank of America raised their price target on Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. The Goldman Sachs Group decreased their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. TD Cowen increased their price target on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv has an average rating of “Buy” and an average target price of $96.22.

Vertiv Trading Up 2.6 %

Shares of NYSE VRT traded up $2.09 during midday trading on Thursday, hitting $82.25. The stock had a trading volume of 5,358,185 shares, compared to its average volume of 8,819,752. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.98. The firm has a market cap of $30.79 billion, a P/E ratio of 79.30, a price-to-earnings-growth ratio of 0.97 and a beta of 1.58. The company’s 50-day simple moving average is $84.77 and its 200 day simple moving average is $81.94. Vertiv has a fifty-two week low of $32.38 and a fifty-two week high of $109.27.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 EPS. Research analysts anticipate that Vertiv will post 2.58 EPS for the current year.

Insider Transactions at Vertiv

In other news, Director Doherty Philip O’ sold 9,529 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the transaction, the director now directly owns 6,882,859 shares of the company’s stock, valued at $752,296,488.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

Large investors have recently modified their holdings of the stock. Bogart Wealth LLC bought a new stake in Vertiv during the first quarter worth about $25,000. GAMMA Investing LLC acquired a new position in shares of Vertiv in the 4th quarter valued at approximately $26,000. Raleigh Capital Management Inc. lifted its holdings in shares of Vertiv by 79.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock worth $27,000 after acquiring an additional 252 shares during the period. Atticus Wealth Management LLC acquired a new stake in shares of Vertiv during the 1st quarter worth approximately $27,000. Finally, Mather Group LLC. increased its stake in Vertiv by 132.5% in the second 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 last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

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.