Oppenheimer Increases Vertiv (NYSE:VRT) Price Target to $98.00

Vertiv (NYSE:VRT) had its price target hoisted by equities researchers at Oppenheimer from $96.00 to $98.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective points to a potential upside of 15.94% from the stock’s current price.

A number of other analysts have also weighed in on VRT. JPMorgan Chase & Co. upped their price target on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup boosted their price target on shares of Vertiv from $69.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Evercore ISI raised their price objective on shares of Vertiv from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Mizuho boosted their target price on shares of Vertiv from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Finally, Bank of America raised their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Vertiv presently has a consensus rating of “Moderate Buy” and an average target price of $75.33.

Vertiv Trading Up 6.8 %

Vertiv stock opened at $84.53 on Thursday. Vertiv has a 52-week low of $12.22 and a 52-week high of $94.39. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $32.29 billion, a price-to-earnings ratio of 71.64, a PEG ratio of 1.26 and a beta of 1.59. The firm has a 50-day moving average price of $75.35 and a two-hundred day moving average price of $56.87.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Vertiv had a return on equity of 39.46% and a net margin of 6.71%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the previous year, the firm posted $0.24 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Vertiv will post 2.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the completion of the sale, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. Insiders own 5.62% of the company’s stock.

Institutional Trading of Vertiv

Institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Vertiv by 355.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,750 shares of the company’s stock valued at $1,776,000 after purchasing an additional 16,971 shares in the last quarter. Arlington Capital Management Inc. acquired a new position in Vertiv during the first quarter worth $222,000. Dakota Wealth Management bought a new position in Vertiv during the first quarter valued at about $2,862,000. Simplicity Wealth LLC acquired a new stake in shares of Vertiv in the first quarter worth about $1,568,000. Finally, Cookson Peirce & Co. Inc. lifted its position in shares of Vertiv by 3.5% in the first quarter. Cookson Peirce & Co. Inc. now owns 49,724 shares of the company’s stock worth $4,061,000 after buying an additional 1,671 shares during the last quarter. 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.