Verra Mobility (NASDAQ:VRRM) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research lowered shares of Verra Mobility (NASDAQ:VRRM) from a hold rating to a sell rating in a research note released on Saturday morning, Zacks.com reports.

According to Zacks, “Verra Mobility Corporation designs and develops mobility software. The Company offers speed, bus lane, railroad crossing, and school bus top arm enforcement and enforcement ticketing, as well as crash reports and video-enabled crime data analysis solutions. Verra Mobility Corporation, formerly known as Gores Holdings II Inc., is based in CA, United States. “

Several other research firms also recently weighed in on VRRM. Goldman Sachs Group began coverage on shares of Verra Mobility in a report on Tuesday, July 30th. They issued a neutral rating and a $15.00 price objective for the company. ValuEngine downgraded shares of Verra Mobility from a buy rating to a hold rating in a report on Saturday, August 10th. Robert W. Baird began coverage on shares of Verra Mobility in a report on Thursday, June 27th. They issued an outperform rating and a $17.00 price objective for the company. Finally, Bank of America raised shares of Verra Mobility from a neutral rating to a buy rating and set a $16.00 price objective for the company in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $15.22.

VRRM stock opened at $14.04 on Friday. The company has a market capitalization of $2.26 billion, a P/E ratio of -20.96 and a beta of 0.40. The company has a 50-day simple moving average of $14.25 and a 200 day simple moving average of $13.71. Verra Mobility has a fifty-two week low of $9.00 and a fifty-two week high of $15.10. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 2.77.

Verra Mobility (NASDAQ:VRRM) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. The company had revenue of $109.58 million during the quarter, compared to analyst estimates of $103.25 million. Equities analysts anticipate that Verra Mobility will post 0.8 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Verra Mobility by 48.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,840 shares of the company’s stock worth $98,000 after purchasing an additional 2,239 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Verra Mobility in the 2nd quarter valued at about $60,000. US Bancorp DE acquired a new stake in Verra Mobility in the 2nd quarter valued at about $69,000. United Services Automobile Association lifted its holdings in Verra Mobility by 51.1% in the 2nd quarter. United Services Automobile Association now owns 17,357 shares of the company’s stock valued at $227,000 after acquiring an additional 5,868 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in Verra Mobility in the 1st quarter valued at about $90,000. 57.86% of the stock is owned by institutional investors and hedge funds.

About Verra Mobility

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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