Zacks Research Upgrades Verra Mobility (NASDAQ:VRRM) to Hold

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

Several other brokerages also recently commented on VRRM. Weiss Ratings downgraded Verra Mobility from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 17th. Wall Street Zen cut Verra Mobility from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. UBS Group raised their price target on Verra Mobility from $4.00 to $6.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $9.00 price objective (down from $22.00) on shares of Verra Mobility in a research report on Wednesday, May 27th. Finally, Robert W. Baird dropped their price objective on shares of Verra Mobility from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Verra Mobility presently has an average rating of “Reduce” and an average target price of $7.00.

Verra Mobility Trading Down 1.9%

Shares of NASDAQ:VRRM opened at $4.72 on Thursday. Verra Mobility has a 52-week low of $3.40 and a 52-week high of $25.57. The company has a market capitalization of $717.00 million, a P/E ratio of 18.15 and a beta of 0.41. The company has a 50-day simple moving average of $4.54 and a 200 day simple moving average of $11.23. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.96 and a current ratio of 2.06.

Verra Mobility (NASDAQ:VRRM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates 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%.Verra Mobility’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $0.34 earnings per share. Sell-side analysts forecast that Verra Mobility will post 1.1 earnings per share for the current year.

Hedge Funds Weigh In On Verra Mobility

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Verra Mobility by 1.1% in the 3rd quarter. Victory Capital Management Inc. now owns 45,583 shares of the company’s stock valued at $1,126,000 after purchasing an additional 511 shares during the period. Lido Advisors LLC grew its holdings in Verra Mobility by 6.3% in the 3rd quarter. Lido Advisors LLC now owns 10,025 shares of the company’s stock valued at $248,000 after buying an additional 595 shares in the last quarter. Salomon & Ludwin LLC increased its position in Verra Mobility by 100.7% during the 4th quarter. Salomon & Ludwin LLC now owns 1,497 shares of the company’s stock worth $34,000 after buying an additional 751 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Verra Mobility by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 31,067 shares of the company’s stock worth $696,000 after buying an additional 969 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Verra Mobility by 46.7% during the second quarter. Smartleaf Asset Management LLC now owns 3,414 shares of the company’s stock worth $87,000 after buying an additional 1,087 shares in the last quarter.

Verra Mobility Company Profile

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.