Zacks Investment Research Downgrades Verra Mobility (NASDAQ:VRRM) to Sell

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Verra Mobility (NASDAQ:VRRM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, 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. “

A number of other research analysts have also issued reports on the company. BTIG Research assumed coverage on Verra Mobility in a report on Wednesday, March 27th. They issued a “buy” rating and a $15.00 target price on the stock. William Blair assumed coverage on Verra Mobility in a report on Wednesday, April 24th. They issued an “outperform” rating and a $13.08 target price on the stock. Robert W. Baird set a $25.00 target price on Actuant and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, ValuEngine lowered Zogenix from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Verra Mobility presently has an average rating of “Buy” and a consensus target price of $15.03.

VRRM opened at $13.79 on Friday. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -20.58 and a beta of 0.40. Verra Mobility has a 52 week low of $9.00 and a 52 week high of $15.07. The stock’s 50 day moving average price is $13.11. The company has a debt-to-equity ratio of 2.82, a quick ratio of 2.44 and a current ratio of 2.44.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings results on Monday, May 6th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.10 by $0.07. The firm had revenue of $98.46 million for the quarter, compared to analyst estimates of $91.60 million. On average, sell-side analysts predict that Verra Mobility will post 0.8 earnings per share for the current fiscal year.

In other news, Director Platinum Equity Llc sold 2,250,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $12.13, for a total value of $27,292,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Marshall Wace North America L.P. acquired a new position in Verra Mobility during the first quarter worth $90,000. United Services Automobile Association acquired a new position in Verra Mobility during the fourth quarter worth $112,000. Anderson Hoagland & Co. acquired a new position in Verra Mobility during the second quarter worth $618,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Verra Mobility during the fourth quarter worth $440,000. Finally, Janus Henderson Group PLC grew its holdings in Verra Mobility by 6.6% during the first quarter. Janus Henderson Group PLC now owns 55,269 shares of the company’s stock worth $658,000 after acquiring an additional 3,433 shares during the period. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

About Verra Mobility

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

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