Vertiv (NYSE:VRT) Price Target Increased to $121.00 by Analysts at Oppenheimer

Vertiv (NYSE:VRT) had its target price upped by research analysts at Oppenheimer from $115.00 to $121.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 10.25% from the company’s previous close.

A number of other brokerages also recently issued reports on VRT. Jefferies Financial Group assumed coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. Bank of America increased their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI increased their target price on Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Mizuho increased their target price on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Citigroup increased their target price on Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a report on Thursday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $119.67.

Vertiv Stock Up 1.3 %

VRT stock traded up $1.39 during midday trading on Thursday, hitting $109.75. The stock had a trading volume of 3,192,642 shares, compared to its average volume of 8,361,276. The firm has a market cap of $41.08 billion, a price-to-earnings ratio of 105.53, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. The business has a 50-day moving average of $92.37 and a two-hundred day moving average of $89.83. Vertiv has a 52-week low of $34.60 and a 52-week high of $116.41. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00.

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

Insider Buying and Selling

In related news, insider Karsten Winther sold 44,924 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.01% of the stock is currently owned by company insiders.

Institutional Trading of Vertiv

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