Bank of America Increases Vertiv (NYSE:VRT) Price Target to $115.00

Vertiv (NYSE:VRT - Get Free Report) had its target price raised by research analysts at Bank of America from $100.00 to $115.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price objective points to a potential upside of 9.98% from the stock's previous close.

A number of other equities research analysts have also weighed in on the stock. Evercore ISI raised their price target on shares of Vertiv from $90.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, April 25th. JPMorgan Chase & Co. boosted their target price on shares of Vertiv from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, April 25th. Citigroup upped their price objective on Vertiv from $102.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, April 25th. Oppenheimer raised their price objective on Vertiv from $96.00 to $98.00 and gave the stock an "outperform" rating in a research note on Thursday, April 25th. Finally, Mizuho raised their target price on shares of Vertiv from $56.00 to $95.00 and gave the stock a "neutral" rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Vertiv presently has an average rating of "Moderate Buy" and a consensus target price of $83.89.

Vertiv Trading Up 5.9 %

Vertiv stock traded up $5.83 during trading on Wednesday, reaching $104.56. The company had a trading volume of 8,472,425 shares, compared to its average volume of 8,066,555. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34. The firm has a market capitalization of $39.14 billion, a price-to-earnings ratio of 97.88, a PEG ratio of 1.43 and a beta of 1.55. Vertiv has a 12-month low of $15.00 and a 12-month high of $104.76. The stock's 50 day moving average price is $83.52 and its two-hundred day moving average price is $62.48.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The firm's revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. As a group, equities analysts expect that Vertiv will post 2.42 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Yibin Edward Cui sold 668 shares of the business's stock in a transaction on Saturday, May 4th. The stock was sold at an average price of $94.39, for a total value of $63,052.52. Following the sale, the insider now owns 19,452 shares of the company's stock, valued at approximately $1,836,074.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Vertiv news, insider Yibin Edward Cui sold 668 shares of the company's stock in a transaction dated Saturday, May 4th. The shares were sold at an average price of $94.39, for a total transaction of $63,052.52. Following the completion of the sale, the insider now directly owns 19,452 shares of the company's stock, valued at $1,836,074.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Anders Karlborg sold 46,206 shares of Vertiv stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $93.75, for a total transaction of $4,331,812.50. Following the transaction, the executive vice president now owns 23,003 shares in the company, valued at $2,156,531.25. The disclosure for this sale can be found here. Insiders sold 3,409,664 shares of company stock worth $310,846,212 over the last three months. Corporate insiders own 5.62% of the company's stock.

Hedge Funds Weigh In On Vertiv

Several institutional investors have recently bought and sold shares of the stock. Ceeto Capital Group LLC bought a new position in shares of Vertiv in the 1st quarter valued at approximately $817,000. Price T Rowe Associates Inc. MD lifted its position in Vertiv by 303.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company's stock worth $390,143,000 after acquiring an additional 3,591,903 shares during the last quarter. BOKF NA grew its position in shares of Vertiv by 1,984,300.0% in the first quarter. BOKF NA now owns 79,376 shares of the company's stock valued at $6,382,000 after purchasing an additional 79,372 shares during the last quarter. Beck Capital Management LLC increased its stake in shares of Vertiv by 102.6% in the first quarter. Beck Capital Management LLC now owns 76,282 shares of the company's stock worth $6,230,000 after purchasing an additional 38,624 shares during the period. Finally, Steel Grove Capital Advisors LLC acquired a new stake in Vertiv in the 1st quarter valued at approximately $408,000. 89.92% of the stock is currently owned by institutional investors.

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.