Verra Mobility (NASDAQ:VRRM) Rating Increased to Strong-Buy at Baird R W

Baird R W upgraded shares of Verra Mobility (NASDAQ:VRRM) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Robert W. Baird upgraded Verra Mobility from a “neutral” rating to an “outperform” rating and set a $27.00 price target on the stock in a research note on Tuesday. Morgan Stanley lowered their target price on Verra Mobility from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th.

Verra Mobility Stock Performance

NASDAQ VRRM opened at $21.89 on Tuesday. Verra Mobility has a 1 year low of $19.51 and a 1 year high of $31.03. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 36.48, a P/E/G ratio of 2.18 and a beta of 0.91. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13. The firm’s 50 day simple moving average is $22.39 and its 200 day simple moving average is $24.06.

Institutional Investors Weigh In On Verra Mobility

Several hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in shares of Verra Mobility by 245.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company’s stock valued at $56,000 after purchasing an additional 1,640 shares in the last quarter. Avanza Fonder AB bought a new position in Verra Mobility in the 4th quarter valued at approximately $74,000. Aster Capital Management DIFC Ltd boosted its position in Verra Mobility by 585.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company’s stock worth $114,000 after buying an additional 4,031 shares during the period. Arcadia Investment Management Corp MI bought a new stake in Verra Mobility during the 4th quarter worth approximately $129,000. Finally, PNC Financial Services Group Inc. increased its position in Verra Mobility by 6.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company’s stock valued at $154,000 after acquiring an additional 409 shares during the period.

Verra Mobility Company Profile

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.