Morgan Stanley Issues Pessimistic Forecast for Verra Mobility (NASDAQ:VRRM) Stock Price

Verra Mobility (NASDAQ:VRRM) had its price target reduced by analysts at Morgan Stanley from $5.00 to $3.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley‘s price target indicates a potential upside of 15.61% from the stock’s previous close.

Several other research analysts also recently issued reports on the company. JPMorgan Chase & Co. downgraded Verra Mobility from a “neutral” rating to an “underweight” rating in a research report on Tuesday. UBS Group raised their price target on Verra Mobility from $4.00 to $6.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Verra Mobility in a report on Monday, September 14th. Finally, Zacks Research raised Verra Mobility from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Eight investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $6.50.

Verra Mobility Price Performance

Shares of VRRM stock traded down $0.07 during mid-day trading on Wednesday, reaching $2.60. The stock had a trading volume of 2,340,038 shares, compared to its average volume of 4,503,867. The company has a market cap of $394.39 million, a P/E ratio of 10.85 and a beta of 0.45. The company has a current ratio of 2.05, a quick ratio of 1.97 and a debt-to-equity ratio of 3.86. Verra Mobility has a 12-month low of $2.51 and a 12-month high of $23.50. The business has a 50-day simple moving average of $3.36 and a 200 day simple moving average of $9.39.

Verra Mobility (NASDAQ:VRRM) last announced its earnings results on Friday, October 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. Verra Mobility had a net margin of 3.77% and a return on equity of 71.65%. The company had revenue of $258.88 million during the quarter, compared to analysts’ expectations of $240.57 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Verra Mobility will post 1.10 earnings per share for the current year.

Institutional Investors Weigh In On Verra Mobility

A number of hedge funds and other institutional investors have recently made changes to their positions in VRRM. Fulcrum Asset Management LLP acquired a new position in Verra Mobility in the third quarter valued at $401,000. 180 Wealth Advisors LLC boosted its stake in Verra Mobility by 74.7% in the 3rd quarter. 180 Wealth Advisors LLC now owns 225,897 shares of the company’s stock worth $700,000 after buying an additional 96,622 shares during the last quarter. CenterBook Partners LP purchased a new stake in Verra Mobility in the 3rd quarter valued at about $1,366,000. Prescott Group Capital Management L.L.C. grew its holdings in Verra Mobility by 130.9% in the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 666,350 shares of the company’s stock valued at $2,066,000 after buying an additional 377,823 shares during the period. Finally, State of Wyoming increased its stake in shares of Verra Mobility by 124.9% during the 3rd quarter. State of Wyoming now owns 61,877 shares of the company’s stock valued at $192,000 after acquiring an additional 34,360 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.