Verra Mobility (NASDAQ:VRRM) Price Target Cut to $29.00 by Analysts at Deutsche Bank Aktiengesellschaft

Verra Mobility (NASDAQ:VRRM) had its target price dropped by research analysts at Deutsche Bank Aktiengesellschaft from $31.00 to $29.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 22.88% from the stock’s current price.

VRRM has been the topic of a number of other reports. Robert W. Baird dropped their target price on Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday. Morgan Stanley cut their target price on shares of Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday.

Verra Mobility Price Performance

Shares of Verra Mobility stock traded down $2.37 on Friday, reaching $23.60. The company’s stock had a trading volume of 2,764,193 shares, compared to its average volume of 1,052,421. The stock has a 50-day moving average price of $27.15 and a 200-day moving average price of $27.12. Verra Mobility has a 52-week low of $18.76 and a 52-week high of $31.03. The company has a market capitalization of $3.89 billion, a P/E ratio of 41.37, a PEG ratio of 1.72 and a beta of 1.27. The company has a quick ratio of 2.47, a current ratio of 2.57 and a debt-to-equity ratio of 2.36.

Verra Mobility (NASDAQ:VRRM) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $222.43 million during the quarter, compared to analysts’ expectations of $220.32 million. Verra Mobility had a net margin of 11.34% and a return on equity of 39.89%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. Analysts expect that Verra Mobility will post 1.07 EPS for the current year.

Institutional Trading of Verra Mobility

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Verra Mobility by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 17,466,733 shares of the company’s stock valued at $436,144,000 after purchasing an additional 231,566 shares during the period. UniSuper Management Pty Ltd bought a new position in shares of Verra Mobility in the first quarter worth $782,000. BNP Paribas Financial Markets raised its position in shares of Verra Mobility by 26.7% in the first quarter. BNP Paribas Financial Markets now owns 144,906 shares of the company’s stock worth $3,618,000 after buying an additional 30,548 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Verra Mobility by 51.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,083,037 shares of the company’s stock valued at $27,043,000 after acquiring an additional 367,976 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Verra Mobility by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,180,519 shares of the company’s stock valued at $86,512,000 after purchasing an additional 193,686 shares in the last quarter.

Verra Mobility Company Profile

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 Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.