Bank of America Raises Vertiv (NYSE:VRT) Price Target to $140.00

Vertiv (NYSE:VRT) had its price objective raised by equities research analysts at Bank of America from $130.00 to $140.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 29.32% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. TD Cowen boosted their target price on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Mizuho boosted their price target on shares of Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday. Evercore ISI boosted their price target on shares of Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Oppenheimer boosted their price target on shares of Vertiv from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Jefferies Financial Group assumed coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price target for the company. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $115.22.

Vertiv Stock Down 3.7 %

Vertiv stock opened at $108.26 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Vertiv has a 12-month low of $34.60 and a 12-month high of $116.41. The firm’s fifty day moving average is $92.37 and its 200 day moving average is $89.83. The company has a market capitalization of $40.53 billion, a PE ratio of 104.10, a PEG ratio of 1.42 and a beta of 1.59.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the company earned $0.52 EPS. Vertiv’s quarterly revenue was up 19.0% compared to the same quarter last year. As a group, sell-side analysts predict that Vertiv will post 2.58 EPS for the current fiscal year.

Insider Transactions at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares in the company, valued at $843,254.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.01% of the company’s stock.

Institutional Trading of Vertiv

Several institutional investors have recently made changes to their positions in VRT. Vanguard Group Inc. grew its position in Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after buying an additional 1,766,784 shares during the period. Price T Rowe Associates Inc. MD grew its position in Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after buying an additional 3,591,903 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Vertiv during the second quarter valued at about $331,091,000. Westfield Capital Management Co. LP grew its position in Vertiv by 85.2% during the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after buying an additional 1,563,466 shares during the period. Finally, Janus Henderson Group PLC grew its position in Vertiv by 17.7% during the first quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock valued at $245,189,000 after buying an additional 451,830 shares during the period. Institutional investors own 89.92% of the company’s stock.

Vertiv Company Profile

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.