Verra Mobility (NASDAQ:VRRM) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Verra Mobility (NASDAQ:VRRM) had its target price lowered by JPMorgan Chase & Co. from $6.00 to $5.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms also recently weighed in on VRRM. Zacks Research upgraded shares of Verra Mobility from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Verra Mobility in a report on Monday, September 14th. UBS Group lifted their price target on Verra Mobility from $4.00 to $6.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Morgan Stanley set a $5.00 price target on Verra Mobility in a research report on Thursday, August 6th. Nine equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Verra Mobility currently has a consensus rating of “Reduce” and an average target price of $6.83.

Verra Mobility Stock Performance

VRRM stock opened at $2.94 on Tuesday. The firm has a fifty day moving average price of $3.79 and a 200 day moving average price of $7.02. Verra Mobility has a fifty-two week low of $2.62 and a fifty-two week high of $25.45. 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 firm has a market cap of $446.82 million, a PE ratio of 11.31 and a beta of 0.42.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. Verra Mobility had a net margin of 4.40% and a return on equity of 64.39%. The company had revenue of $263.59 million for the quarter, compared to analysts’ expectations of $254.81 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. Verra Mobility’s quarterly revenue was up 11.7% on a year-over-year basis. Sell-side analysts anticipate that Verra Mobility will post 1.10 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Verra Mobility

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ACT Advisors LLC. grew its holdings in Verra Mobility by 21.3% during the 3rd quarter. ACT Advisors LLC. now owns 27,194 shares of the company’s stock valued at $84,000 after purchasing an additional 4,777 shares during the last quarter. Wedmont Private Capital lifted its stake in Verra Mobility by 96.3% in the third quarter. Wedmont Private Capital now owns 79,175 shares of the company’s stock worth $231,000 after purchasing an additional 38,846 shares during the last quarter. GAMMA Investing LLC lifted its stake in Verra Mobility by 46.2% in the third quarter. GAMMA Investing LLC now owns 16,286 shares of the company’s stock worth $50,000 after purchasing an additional 5,144 shares during the last quarter. Kure Advisory LLC bought a new stake in Verra Mobility in the third quarter worth about $39,000. Finally, Everhart Financial Group Inc. purchased a new position in shares of Verra Mobility during the third quarter valued at approximately $32,000.

About Verra Mobility

Verra Mobility Corporation (NASDAQ: VRRM) is a smart mobility technology company that provides solutions designed to make transportation safer, more efficient and easier to manage. Its customers include government agencies, commercial fleets, rental car companies and other organizations that oversee vehicles, roads and transportation programs.

The company’s government solutions include automated traffic enforcement technologies and services, such as systems used to help administer red-light, speed, school-bus-stop-arm and other roadway safety programs.