Verra Mobility (NASDAQ:VRRM) Rating Lowered to Hold at Zacks Investment Research

Verra Mobility (NASDAQ:VRRMGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Verra Mobility Corporation designs and develops mobility software. The Company offers speed, bus lane, railroad crossing, and school bus top arm enforcement and enforcement ticketing, as well as crash reports and video-enabled crime data analysis solutions. Verra Mobility Corporation, formerly known as Gores Holdings II Inc., is based in CA, United States. “

Several other research firms have also commented on VRRM. Deutsche Bank Aktiengesellschaft increased their target price on shares of Verra Mobility from $17.00 to $18.00 in a report on Friday, April 1st. Robert W. Baird reduced their price target on Verra Mobility from $20.00 to $18.00 in a research report on Tuesday, May 10th. Credit Suisse Group lifted their target price on shares of Verra Mobility from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, April 25th. Finally, TheStreet cut shares of Verra Mobility from a “b-” rating to a “c+” rating in a research report on Tuesday, April 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.17.

Shares of Verra Mobility stock opened at $15.95 on Wednesday. The firm has a market capitalization of $2.49 billion, a PE ratio of 46.91 and a beta of 1.33. The company has a current ratio of 2.35, a quick ratio of 2.25 and a debt-to-equity ratio of 4.37. Verra Mobility has a 12 month low of $12.70 and a 12 month high of $18.13. The business’s 50-day moving average price is $15.02 and its 200-day moving average price is $15.49.

Verra Mobility (NASDAQ:VRRMGet Rating) last issued its earnings results on Monday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). Verra Mobility had a return on equity of 44.07% and a net margin of 9.57%. The firm had revenue of $170.39 million during the quarter, compared to analysts’ expectations of $165.02 million. During the same period in the prior year, the company earned $0.11 EPS. As a group, analysts predict that Verra Mobility will post 0.9 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Darlington Partners Capital Management LP bought a new stake in shares of Verra Mobility during the fourth quarter valued at approximately $166,947,000. Handelsbanken Fonder AB raised its position in shares of Verra Mobility by 260.7% in the 1st quarter. Handelsbanken Fonder AB now owns 2,933,800 shares of the company’s stock worth $47,762,000 after purchasing an additional 2,120,351 shares during the last quarter. Blue Grotto Capital LLC purchased a new position in Verra Mobility in the first quarter worth about $20,964,000. Norges Bank bought a new position in shares of Verra Mobility during the fourth quarter valued at $19,561,000. Finally, Cardinal Capital Management LLC CT boosted its position in shares of Verra Mobility by 144.0% during the third quarter. Cardinal Capital Management LLC CT now owns 2,108,629 shares of the company’s stock valued at $31,777,000 after buying an additional 1,244,606 shares during the last quarter.

About Verra Mobility (Get Rating)

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services; Government Solutions; and Parking Solutions. The Government Solutions segment offers automated safety solutions, including services and technologies that enable photo enforcement through road safety camera programs, which detects and process traffic violations related to red light, speed, school bus, and city bus lanes.

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