Verra Mobility (NASDAQ:VRRM) Stock Rating Lowered by JPMorgan Chase & Co.

Verra Mobility (NASDAQ:VRRM) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report released on Tuesday, Briefing.com reports.

Several other equities research analysts have also weighed in on VRRM. Zacks Research upgraded Verra Mobility from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Verra Mobility in a research report on Monday, September 14th. Morgan Stanley set a $5.00 price target on Verra Mobility in a report on Thursday, August 6th. Finally, UBS Group increased their price target on Verra Mobility from $4.00 to $6.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Eight equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $6.83.

Verra Mobility Price Performance

Shares of NASDAQ:VRRM opened at $2.68 on Tuesday. Verra Mobility has a fifty-two week low of $2.52 and a fifty-two week high of $23.50. The business has a 50-day moving average of $3.39 and a two-hundred day moving average of $9.49. The stock has a market capitalization of $407.31 million, a P/E ratio of 11.17 and a beta of 0.42. The company has a debt-to-equity ratio of 4.58, a current ratio of 2.06 and a quick ratio of 1.96.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings results on Friday, October 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.10. The company had revenue of $258.88 million during the quarter, compared to the consensus estimate of $240.57 million. Verra Mobility had a return on equity of 64.39% and a net margin of 4.40%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 EPS. On average, equities research analysts predict that Verra Mobility will post 1.10 EPS for the current fiscal year.

Institutional Investors Weigh In On Verra Mobility

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Everhart Financial Group Inc. acquired a new stake in shares of Verra Mobility in the third quarter valued at about $32,000. Parametrica Management Ltd bought a new position in shares of Verra Mobility in the third quarter worth about $37,000. Kure Advisory LLC acquired a new position in shares of Verra Mobility during the 3rd quarter worth about $39,000. HB Wealth Management LLC acquired a new position in shares of Verra Mobility during the 2nd quarter worth about $43,000. Finally, Versant Capital Management Inc lifted its position in shares of Verra Mobility by 190.4% during the 2nd quarter. Versant Capital Management Inc now owns 10,378 shares of the company’s stock worth $44,000 after purchasing an additional 6,804 shares during the last quarter.

Verra Mobility Company Profile

Verra Mobility Corporation (NASDAQ:VRRM) provides smart mobility technology and services designed to improve transportation safety, efficiency and compliance. The company develops cloud-based solutions that help government agencies, commercial fleets and mobility providers manage transportation-related processes and data.

Its government solutions include automated safety enforcement programs for red-light, speed, school-zone and bus-lane violations, as well as technology supporting school bus safety initiatives.