Citigroup Boosts Vertiv (NYSE:VRT) Price Target to $134.00

Vertiv (NYSE:VRT) had its price target lifted by equities researchers at Citigroup from $130.00 to $134.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 22.10% from the company’s current price.

A number of other research firms also recently commented on VRT. TD Cowen lifted their target price on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Mizuho lifted their target price on shares of Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America boosted their price target on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday. Oppenheimer boosted their target price on shares of Vertiv from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, The Goldman Sachs Group cut their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, Vertiv has a consensus rating of “Buy” and a consensus target price of $117.89.

Vertiv Stock Up 1.3 %

Shares of VRT stock traded up $1.39 during trading hours on Thursday, hitting $109.75. 730,149 shares of the company’s stock traded hands, compared to its average volume of 8,351,238. The stock has a market cap of $41.08 billion, a price-to-earnings ratio of 105.53, a PEG ratio of 1.42 and a beta of 1.59. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock’s fifty day simple moving average is $92.37 and its two-hundred day simple moving average is $89.83. Vertiv has a 12-month low of $34.60 and a 12-month high of $116.41.

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

Insider Buying and Selling at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $843,254.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vertiv

A number of large investors have recently added to or reduced their stakes in the business. Arkadios Wealth Advisors lifted its holdings in Vertiv by 16.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 5,706 shares of the company’s stock valued at $568,000 after purchasing an additional 787 shares in the last quarter. NorthCrest Asset Manangement LLC increased its position in Vertiv by 23.7% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 4,852 shares of the company’s stock worth $483,000 after purchasing an additional 930 shares in the last quarter. Forsta AP Fonden increased its position in Vertiv by 6.3% during the 3rd quarter. Forsta AP Fonden now owns 145,711 shares of the company’s stock worth $14,497,000 after purchasing an additional 8,600 shares in the last quarter. Parcion Private Wealth LLC acquired a new stake in Vertiv during the 3rd quarter worth approximately $429,000. Finally, Lyell Wealth Management LP purchased a new stake in shares of Vertiv during the third quarter valued at approximately $1,519,000. 89.92% of the stock is 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.