Verra Mobility Corp (NASDAQ:VRRM) Receives Consensus Recommendation of "Reduce" from Brokerages

Key Points

• Verra Mobility received a consensus “Reduce” rating from 10 analysts: one recommended selling and nine rated the stock a hold. The average 12-month price target is $7.00.
• VRRM shares opened at $2.81, near their 52-week low of $2.80, with the stock well below its 50-day and 200-day moving averages.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.38 versus a $0.33 estimate and revenue of $263.59 million versus $254.81 million; revenue increased 11.7% year over year.

Shares of Verra Mobility Corp (NASDAQ:VRRM - Get Free Report) have received a consensus rating of "Reduce" from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and nine have assigned a hold recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $7.00.

Several analysts have commented on VRRM shares. Morgan Stanley set a $5.00 price objective on shares of Verra Mobility in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised shares of Verra Mobility from an "underweight" rating to a "neutral" rating and increased their target price for the company from $5.00 to $6.00 in a research report on Monday, July 13th. Zacks Research upgraded shares of Verra Mobility from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. UBS Group raised their price target 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. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Verra Mobility in a report on Monday, September 14th.

Institutional Trading of Verra Mobility

A number of large investors have recently bought and sold shares of the company. Bank of America Corp DE raised its stake in Verra Mobility by 34.4% in the 1st quarter. Bank of America Corp DE now owns 1,576,119 shares of the company's stock valued at $22,523,000 after acquiring an additional 403,638 shares during the period. Edgestream Partners L.P. lifted its holdings in Verra Mobility by 41.5% during the first quarter. Edgestream Partners L.P. now owns 818,595 shares of the company's stock valued at $11,698,000 after purchasing an additional 240,163 shares during the last quarter. River Road Asset Management LLC boosted its position in Verra Mobility by 441.6% during the fourth quarter. River Road Asset Management LLC now owns 2,984,760 shares of the company's stock worth $66,888,000 after purchasing an additional 2,433,610 shares during the period. Hawk Ridge Capital Management LP bought a new position in Verra Mobility during the first quarter worth about $6,390,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of Verra Mobility in the first quarter worth about $4,750,000.

Verra Mobility Stock Performance

Shares of Verra Mobility stock opened at $2.81 on Monday. Verra Mobility has a 1 year low of $2.80 and a 1 year high of $25.45. The firm has a market cap of $427.06 million, a PE ratio of 10.81 and a beta of 0.42. The stock has a fifty day moving average price of $4.18 and a 200-day moving average price of $7.75. The company has a debt-to-equity ratio of 4.58, a current ratio of 2.06 and a quick ratio of 1.96.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.05. The company had revenue of $263.59 million for 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 business'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 EPS. Equities research analysts anticipate that Verra Mobility will post 1.11 EPS for the current year.

Verra Mobility Company Profile

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.

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