Verra Mobility (NASDAQ:VRRM) Stock Price Target Cut by JPMorgan Chase & Co.

Verra Mobility (NASDAQ:VRRM) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $6.00 to $5.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 67.50% from the stock’s previous close.

A number of other brokerages have also issued reports on VRRM. UBS Group boosted their target price on Verra Mobility from $4.00 to $6.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Verra Mobility in a report on Monday, September 14th. Zacks Research upgraded Verra Mobility from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, Morgan Stanley set a $5.00 price target on Verra Mobility in a research note on Thursday, August 6th. Nine investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Verra Mobility presently has a consensus rating of “Reduce” and a consensus target price of $6.83.

Verra Mobility Price Performance

Shares of NASDAQ VRRM traded up $0.07 during trading on Tuesday, hitting $2.98. The company had a trading volume of 1,664,361 shares, compared to its average volume of 4,500,403. The company has a market cap of $453.66 million, a P/E ratio of 11.48 and a beta of 0.42. Verra Mobility has a 52 week low of $2.77 and a 52 week high of $25.45. The business’s 50-day moving average is $3.93 and its 200 day moving average is $7.25. 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 announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $263.59 million during the quarter, compared to the consensus estimate of $254.81 million. Verra Mobility had a return on equity of 64.39% and a net margin of 4.40%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. Equities research analysts predict that Verra Mobility will post 1.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verra Mobility

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. River Road Asset Management LLC lifted its holdings in shares of Verra Mobility by 441.6% in the fourth quarter. River Road Asset Management LLC now owns 2,984,760 shares of the company’s stock valued at $66,888,000 after purchasing an additional 2,433,610 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Verra Mobility by 34.4% in the first quarter. Bank of America Corp DE now owns 1,576,119 shares of the company’s stock worth $22,523,000 after buying an additional 403,638 shares during the period. Sei Investments Co. grew its holdings in shares of Verra Mobility by 10.6% during the first quarter. Sei Investments Co. now owns 1,213,838 shares of the company’s stock valued at $17,346,000 after buying an additional 115,968 shares in the last quarter. Punch & Associates Investment Management Inc. grew its holdings in shares of Verra Mobility by 1.7% during the first quarter. Punch & Associates Investment Management Inc. now owns 1,147,170 shares of the company’s stock valued at $16,393,000 after buying an additional 19,610 shares in the last quarter. Finally, Aristotle Capital Boston LLC grew its holdings in shares of Verra Mobility by 56.3% during the fourth quarter. Aristotle Capital Boston LLC now owns 661,918 shares of the company’s stock valued at $14,834,000 after buying an additional 238,328 shares in the last quarter.

Verra Mobility Company Profile

Verra Mobility Corporation (NASDAQ: VRRM) is a smart mobility technology company that provides solutions designed to make transportation safer, more efficient and easier to manage. Its customers include government agencies, commercial fleets, rental car companies and other organizations that oversee vehicles, roads and transportation programs.

The company’s government solutions include automated traffic enforcement technologies and services, such as systems used to help administer red-light, speed, school-bus-stop-arm and other roadway safety programs.