Evercore ISI Cuts Vertiv (NYSE:VRT) Price Target to $145.00

Vertiv (NYSE:VRT) had its target price lowered by analysts at Evercore ISI from $150.00 to $145.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price target would suggest a potential upside of 7.22% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Mizuho increased their price objective on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Bank of America boosted their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays started coverage on Vertiv in a research report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 price target for the company. Finally, UBS Group started coverage on Vertiv in a report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Vertiv has a consensus rating of “Moderate Buy” and a consensus target price of $141.75.

Vertiv Trading Up 2.0 %

Shares of Vertiv stock traded up $2.65 during mid-day trading on Friday, hitting $135.24. The stock had a trading volume of 664,735 shares, compared to its average volume of 5,544,995. The firm has a market cap of $50.76 billion, a P/E ratio of 90.12, a price-to-earnings-growth ratio of 0.99 and a beta of 1.63. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The firm has a 50-day moving average of $125.65 and a two-hundred day moving average of $102.95. Vertiv has a 12-month low of $49.67 and a 12-month high of $145.67.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. Sell-side analysts forecast that Vertiv will post 2.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Stephen Liang sold 86,619 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the transaction, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at approximately $2,562,549.57. This represents a 81.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jan Van Dokkum sold 38,647 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.39, for a total value of $5,271,064.33. Following the sale, the director now directly owns 25,000 shares in the company, valued at $3,409,750. This trade represents a 60.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 171,527 shares of company stock worth $23,105,682 in the last 90 days. Corporate insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC grew its holdings in shares of Vertiv by 10,825.0% during the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after purchasing an additional 4,558,306 shares during the last quarter. Wellington Management Group LLP increased its position in Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after buying an additional 2,860,181 shares during the period. Castle Hook Partners LP lifted its stake in Vertiv by 215.6% in the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock valued at $185,492,000 after buying an additional 1,273,746 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in shares of Vertiv during the third quarter worth approximately $110,517,000. Finally, Blue Whale Capital LLP acquired a new position in shares of Vertiv in the 3rd quarter valued at $93,481,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

About Vertiv

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.