JPMorgan Chase & Co. Raises Vertiv (NYSE:VRT) Price Target to $100.00

Vertiv (NYSE:VRT) had its price objective increased by research analysts at JPMorgan Chase & Co. from $95.00 to $100.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 18.30% from the stock’s current price.

A number of other research firms also recently issued reports on VRT. Citigroup upped their price target on shares of Vertiv from $69.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Bank of America upped their price target on shares of Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Mizuho upped their price target on shares of Vertiv from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Oppenheimer initiated coverage on shares of Vertiv in a research note on Friday, April 5th. They set an “outperform” rating and a $96.00 price target on the stock. Finally, Evercore ISI upped their price target on shares of Vertiv from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.33.

Vertiv Price Performance

VRT stock opened at $84.53 on Thursday. Vertiv has a one year low of $12.22 and a one year high of $94.39. The company’s fifty day moving average price is $75.35 and its 200-day moving average price is $56.87. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.35 and a current ratio of 1.74. The company has a market capitalization of $32.29 billion, a PE ratio of 71.64, a price-to-earnings-growth ratio of 1.26 and a beta of 1.59.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Vertiv will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the transaction, the executive vice president now owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The disclosure for this sale can be found here. 5.62% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC boosted its stake in Vertiv by 90.5% in the 3rd quarter. CWM LLC now owns 4,231 shares of the company’s stock worth $157,000 after purchasing an additional 2,010 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Vertiv by 30.0% in the 3rd quarter. Global Retirement Partners LLC now owns 1,588 shares of the company’s stock worth $61,000 after purchasing an additional 366 shares in the last quarter. Avior Wealth Management LLC acquired a new stake in Vertiv in the 3rd quarter worth approximately $331,000. Cannon Global Investment Management LLC acquired a new stake in Vertiv during the 3rd quarter valued at approximately $542,000. Finally, Commonwealth Equity Services LLC acquired a new stake in Vertiv during the 3rd quarter valued at approximately $2,241,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

About Vertiv

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.