Verra Mobility Corp (NASDAQ:VRRM) Receives Consensus Rating of “Reduce” from Analysts

Verra Mobility Corp (NASDAQ:VRRM) has earned an average rating of “Reduce” from the ten analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and nine have given a hold rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $7.00.

A number of brokerages have weighed in on VRRM. UBS Group boosted their target price on shares of Verra Mobility from $4.00 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. raised shares of Verra Mobility from an “underweight” rating to a “neutral” rating and raised their price target for the company from $5.00 to $6.00 in a report on Monday, July 13th. Northcoast Research reaffirmed a “neutral” rating on shares of Verra Mobility in a report on Wednesday, May 27th. Weiss Ratings downgraded Verra Mobility from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, June 17th. Finally, Robert W. Baird decreased their price objective on Verra Mobility from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd.

Verra Mobility Stock Performance

Shares of NASDAQ:VRRM opened at $4.66 on Friday. Verra Mobility has a twelve month low of $3.40 and a twelve month high of $25.57. The firm has a market cap of $708.24 million, a PE ratio of 17.92 and a beta of 0.41. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.96 and a current ratio of 2.06. The business has a fifty day moving average of $4.55 and a 200-day moving average of $10.74.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The business had revenue of $263.59 million during the quarter, compared to analysts’ expectations of $254.81 million. Verra Mobility had a return on equity of 64.39% and a net margin of 4.40%.The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. On average, equities research analysts predict that Verra Mobility will post 1.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Verra Mobility

Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in Verra Mobility during the fourth quarter worth about $68,608,000. River Road Asset Management LLC boosted its holdings in shares of Verra Mobility by 441.6% in the fourth quarter. River Road Asset Management LLC now owns 2,984,760 shares of the company’s stock valued at $66,888,000 after buying an additional 2,433,610 shares during the period. Morgan Stanley increased its holdings in Verra Mobility by 44.8% during the 4th quarter. Morgan Stanley now owns 4,194,005 shares of the company’s stock worth $93,988,000 after purchasing an additional 1,296,602 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Verra Mobility by 71.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,924,781 shares of the company’s stock worth $65,544,000 after buying an additional 1,222,116 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Verra Mobility by 188.7% in the fourth quarter. Jane Street Group LLC now owns 1,210,330 shares of the company’s stock valued at $27,123,000 after purchasing an additional 791,146 shares during the last quarter.

About Verra Mobility

Verra Mobility, traded on the Nasdaq under the ticker VRRM, is a leading provider of smart mobility solutions designed to improve safety, efficiency and compliance for transportation authorities and commercial fleets. The company develops and operates automated traffic enforcement systems, toll and violation management platforms, and connected-vehicle services. Through its technology offerings, Verra Mobility helps public agencies enhance road safety, reduce congestion and streamline revenue collection for tolling and parking.

Verra Mobility’s core products include red-light and speed-camera enforcement programs, license plate recognition systems, and cloud-based violation processing software.