JPMorgan Chase & Co. Initiates Coverage on Verra Mobility (NASDAQ:VRRM)

Research analysts at JPMorgan Chase & Co. initiated coverage on shares of Verra Mobility (NASDAQ:VRRM) in a note issued to investors on Monday, Marketbeat reports. The brokerage set a “neutral” rating and a $25.00 price target on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 24.81% from the stock’s previous close.

VRRM has been the topic of several other reports. Wall Street Zen upgraded Verra Mobility from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 20th. UBS Group lifted their price target on Verra Mobility from $29.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Verra Mobility in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Verra Mobility has an average rating of “Hold” and a consensus target price of $27.25.

Verra Mobility Trading Down 2.4%

Shares of NASDAQ VRRM opened at $20.03 on Monday. The business’s 50 day moving average price is $22.02 and its 200-day moving average price is $23.47. Verra Mobility has a fifty-two week low of $19.51 and a fifty-two week high of $27.06. The company has a debt-to-equity ratio of 2.55, a quick ratio of 2.35 and a current ratio of 2.45. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 62.60, a PEG ratio of 3.26 and a beta of 0.60.

Verra Mobility (NASDAQ:VRRM) last released its earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $261.94 million for the quarter, compared to analyst estimates of $237.68 million. Verra Mobility had a return on equity of 60.72% and a net margin of 5.42%.The business’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. On average, sell-side analysts expect that Verra Mobility will post 1.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VRRM. Rothschild Investment LLC grew its holdings in shares of Verra Mobility by 238.3% during the third quarter. Rothschild Investment LLC now owns 1,167 shares of the company’s stock worth $29,000 after buying an additional 822 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Verra Mobility by 46.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,447 shares of the company’s stock valued at $37,000 after acquiring an additional 460 shares during the last quarter. CWM LLC raised its holdings in Verra Mobility by 112.2% in the 2nd quarter. CWM LLC now owns 1,509 shares of the company’s stock valued at $38,000 after acquiring an additional 798 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Verra Mobility by 439.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the company’s stock worth $38,000 after purchasing an additional 1,217 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Verra Mobility during the 3rd quarter worth approximately $60,000.

Verra Mobility Company Profile

Verra Mobility, traded on the Nasdaq under the ticker VRRM, is a leading provider of smart mobility solutions designed to improve safety, efficiency and compliance for transportation authorities and commercial fleets. The company develops and operates automated traffic enforcement systems, toll and violation management platforms, and connected-vehicle services. Through its technology offerings, Verra Mobility helps public agencies enhance road safety, reduce congestion and streamline revenue collection for tolling and parking.

Verra Mobility’s core products include red-light and speed-camera enforcement programs, license plate recognition systems, and cloud-based violation processing software.