BidaskClub Lowers Verra Mobility (NASDAQ:VRRM) to Strong Sell

BidaskClub lowered shares of Verra Mobility (NASDAQ:VRRM) from a sell rating to a strong sell rating in a report released on Friday, BidAskClub reports.

VRRM has been the topic of a number of other reports. Northcoast Research assumed coverage on Verra Mobility in a research note on Friday, June 12th. They issued a buy rating and a $14.00 price target on the stock. Zacks Investment Research cut Verra Mobility from a buy rating to a hold rating in a research note on Friday, August 14th. Finally, BTIG Research reaffirmed a buy rating and issued a $13.00 price target on shares of Verra Mobility in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $12.93.

Shares of Verra Mobility stock opened at $9.25 on Friday. The company has a debt-to-equity ratio of 2.60, a current ratio of 4.16 and a quick ratio of 4.16. The business’s 50 day simple moving average is $10.63 and its two-hundred day simple moving average is $9.78. The stock has a market capitalization of $1.50 billion, a P/E ratio of 84.10 and a beta of 1.44. Verra Mobility has a one year low of $5.63 and a one year high of $17.20.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. The business had revenue of $79.81 million for the quarter, compared to analysts’ expectations of $76.75 million. Verra Mobility had a return on equity of 26.82% and a net margin of 4.17%. Sell-side analysts expect that Verra Mobility will post 0.33 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Fort L.P. bought a new stake in shares of Verra Mobility during the first quarter valued at approximately $41,000. Tower Research Capital LLC TRC bought a new stake in shares of Verra Mobility during the first quarter valued at approximately $53,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Verra Mobility by 40.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,581 shares of the company’s stock valued at $68,000 after purchasing an additional 2,741 shares in the last quarter. First Mercantile Trust Co. bought a new stake in shares of Verra Mobility during the second quarter valued at approximately $99,000. Finally, Gamco Investors INC. ET AL bought a new stake in shares of Verra Mobility during the second quarter valued at approximately $103,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Verra Mobility Company Profile

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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Analyst Recommendations for Verra Mobility (NASDAQ:VRRM)

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