Vertiv (NYSE:VRT) Stock Price Expected to Rise, Oppenheimer Analyst Says

Vertiv (NYSE:VRT) had its target price raised by stock analysts at Oppenheimer from $121.00 to $131.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective points to a potential upside of 6.46% from the stock’s previous close.

A number of other analysts have also weighed in on the company. Mizuho raised their target price on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Evercore ISI boosted their target price on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. TD Cowen increased their price target on shares of Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Citigroup upped their price objective on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group lowered their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv has an average rating of “Buy” and a consensus target price of $126.40.

Vertiv Trading Up 1.8 %

Shares of Vertiv stock opened at $123.05 on Tuesday. The stock has a market capitalization of $46.19 billion, a P/E ratio of 82.03, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. Vertiv has a 12-month low of $41.01 and a 12-month high of $130.30. 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 company has a 50-day simple moving average of $106.34 and a 200 day simple moving average of $93.93.

Vertiv (NYSE:VRT) last posted 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. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. Vertiv’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. Research analysts expect that Vertiv will post 2.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the 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 sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Several institutional investors and hedge funds have recently made changes to their positions in VRT. State Street Corp lifted its holdings in Vertiv by 4.2% during the third quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after acquiring an additional 308,704 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Vertiv by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock valued at $592,433,000 after purchasing an additional 408,054 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Vertiv by 303.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the period. Jennison Associates LLC increased its stake in Vertiv by 10,825.0% during the 3rd 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 in the last quarter. Finally, Wellington Management Group LLP increased its stake in Vertiv by 271.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

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.