Verra Mobility (NASDAQ:VRRM) Upgraded to Hold at Zacks Research

Verra Mobility (NASDAQ:VRRM) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Several other equities analysts have also recently weighed in on VRRM. CJS Securities cut Verra Mobility from a “market outperform” rating to a “market perform” rating and set a $10.00 price objective for the company. in a report on Wednesday, May 27th. Northcoast Research restated a “neutral” rating on shares of Verra Mobility in a research report on Wednesday, May 27th. Morgan Stanley set a $5.00 price target on Verra Mobility in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised shares of Verra Mobility from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $5.00 to $6.00 in a research report on Monday, July 13th. Finally, William Blair downgraded shares of Verra Mobility from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 27th. Nine analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $7.00.

Verra Mobility Stock Down 1.9%

Shares of VRRM opened at $4.72 on Thursday. Verra Mobility has a 12 month low of $3.40 and a 12 month high of $25.57. The firm’s 50 day moving average is $4.54 and its 200-day moving average is $11.23. The stock has a market capitalization of $717.00 million, a PE ratio of 18.15 and a beta of 0.41. The company has a current ratio of 2.06, a quick ratio of 1.96 and a debt-to-equity ratio of 4.58.

Verra Mobility (NASDAQ:VRRM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company posted $0.34 earnings per share. Equities research analysts forecast that Verra Mobility will post 1.1 EPS for the current year.

Hedge Funds Weigh In On Verra Mobility

Several hedge funds and other institutional investors have recently modified their holdings of VRRM. Royal Bank of Canada lifted its position in shares of Verra Mobility by 14.3% during the 1st quarter. Royal Bank of Canada now owns 148,464 shares of the company’s stock worth $3,342,000 after buying an additional 18,562 shares during the last quarter. AQR Capital Management LLC grew its position in Verra Mobility by 21.7% in the first quarter. AQR Capital Management LLC now owns 34,501 shares of the company’s stock valued at $777,000 after acquiring an additional 6,153 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Verra Mobility by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,120 shares of the company’s stock worth $2,209,000 after acquiring an additional 4,302 shares in the last quarter. Millennium Management LLC raised its stake in Verra Mobility by 208.0% during the first quarter. Millennium Management LLC now owns 375,421 shares of the company’s stock worth $8,451,000 after acquiring an additional 253,529 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Verra Mobility by 33.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,182,297 shares of the company’s stock worth $26,614,000 after acquiring an additional 293,082 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.