Via Transportation (NYSE:VIA) Price Target Lowered to $40.00 at Oppenheimer

Via Transportation (NYSE:VIA) had its price target reduced by equities researchers at Oppenheimer from $59.00 to $40.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 50.07% from the company’s previous close.

VIA has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft set a $55.00 target price on Via Transportation and gave the stock a “buy” rating in a report on Tuesday, October 7th. Zacks Research upgraded shares of Via Transportation to a “hold” rating in a research report on Wednesday, October 8th. Guggenheim initiated coverage on Via Transportation in a research note on Tuesday, October 7th. They set a “buy” rating and a $58.00 price objective for the company. William Blair initiated coverage on Via Transportation in a research report on Tuesday, October 7th. They set an “outperform” rating for the company. Finally, Morgan Stanley raised shares of Via Transportation from an “equal weight” rating to an “overweight” rating in a research note on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Via Transportation presently has an average rating of “Moderate Buy” and an average price target of $54.91.

Via Transportation Stock Performance

Via Transportation stock opened at $26.66 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.17 and a current ratio of 5.17. The stock has a market capitalization of $2.16 billion and a PE ratio of -38.51. The company has a 50-day simple moving average of $31.21. Via Transportation has a one year low of $22.65 and a one year high of $56.31.

Via Transportation (NYSE:VIA) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.04). The company had revenue of $109.65 million for the quarter, compared to analysts’ expectations of $106.42 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE purchased a new stake in Via Transportation in the 3rd quarter worth $29,000. Assetmark Inc. acquired a new stake in Via Transportation in the 3rd quarter worth about $36,000. PNC Financial Services Group Inc. acquired a new position in shares of Via Transportation during the third quarter valued at approximately $60,000. WINTON GROUP Ltd purchased a new position in shares of Via Transportation in the third quarter valued at approximately $219,000. Finally, Legal & General Group Plc purchased a new stake in shares of Via Transportation during the third quarter worth approximately $239,000. Hedge funds and other institutional investors own 74.40% of the company’s stock.

About Via Transportation

Via transforms antiquated and siloed public transportation systems into smart, data-driven, and efficient digital networks. We are addressing a striking gap in the $545 billion global public transportation market. While billions of people across the globe rely on public transportation, this critical form of mobility has yet to meaningfully benefit from recent advances in technology. Buses still follow fixed routes and schedules planned years, if not decades ago, regardless of actual demand for their service.