Deutsche Bank Aktiengesellschaft Cuts Verra Mobility (NASDAQ:VRRM) Price Target to $29.00

Verra Mobility (NASDAQ:VRRM) had its price target cut by Deutsche Bank Aktiengesellschaft from $31.00 to $29.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on the stock. Robert W. Baird cut their target price on shares of Verra Mobility from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Friday. Morgan Stanley dropped their target price on Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th.

Verra Mobility Trading Down 1.4 %

Shares of VRRM opened at $22.80 on Friday. Verra Mobility has a 52-week low of $18.76 and a 52-week high of $31.03. The company has a quick ratio of 2.47, a current ratio of 2.57 and a debt-to-equity ratio of 2.36. The firm’s fifty day moving average is $27.03 and its two-hundred day moving average is $27.15. The stock has a market cap of $3.75 billion, a PE ratio of 38.05, a price-to-earnings-growth ratio of 1.70 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $225.55 million for the quarter, compared to analysts’ expectations of $226.65 million. Verra Mobility had a net margin of 11.64% and a return on equity of 40.09%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. Research analysts forecast that Verra Mobility will post 1.07 earnings per share for the current fiscal year.

Institutional Trading of Verra Mobility

Several institutional investors have recently modified their holdings of VRRM. Versor Investments LP bought a new stake in shares of Verra Mobility during the third quarter worth $676,000. State of New Jersey Common Pension Fund D grew its stake in Verra Mobility by 2.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 72,051 shares of the company’s stock valued at $2,004,000 after acquiring an additional 1,815 shares during the period. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Verra Mobility by 76.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 24,908 shares of the company’s stock valued at $693,000 after purchasing an additional 10,805 shares in the last quarter. Atria Investments Inc bought a new stake in shares of Verra Mobility in the third quarter valued at about $260,000. Finally, Assetmark Inc. raised its holdings in Verra Mobility by 539.0% during the third quarter. Assetmark Inc. now owns 49,841 shares of the company’s stock worth $1,386,000 after acquiring an additional 42,041 shares in the last quarter.

About Verra Mobility

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.