Zacks Investment Research cut shares of Veritiv Corporation (NYSE:VRTV) from a buy rating to a hold rating in a research report sent to investors on Thursday.
According to Zacks, “Veritiv Corporation engages in offering North American business-to-business distribution solutions. It provides packaging, print and print management, publishing, supply chain, facility and logistics solutions that span the entire lifecycle of core business operations. The company’s customers vary across a number of industries, including manufacturing, healthcare, retail and more. Veritiv Corporation is headquartered in Atlanta, Georgia. “
Other equities research analysts have also recently issued reports about the stock. SunTrust Banks, Inc. upgraded shares of Veritiv Corporation from a hold rating to a buy rating and set a $45.00 price target for the company in a research report on Thursday, August 3rd. They noted that the move was a valuation call. TheStreet cut shares of Veritiv Corporation from a c- rating to a d+ rating in a research report on Monday, August 21st. BidaskClub upgraded shares of Veritiv Corporation from a sell rating to a hold rating in a research report on Thursday, September 28th. Wells Fargo & Company cut shares of Veritiv Corporation from an outperform rating to a market perform rating in a research report on Wednesday. Finally, William Blair cut shares of Veritiv Corporation from an outperform rating to a market perform rating in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $33.00.
Shares of Veritiv Corporation (NYSE VRTV) traded up $0.10 on Thursday, hitting $23.65. 173,885 shares of the company’s stock were exchanged, compared to its average volume of 113,634. Veritiv Corporation has a 1-year low of $20.35 and a 1-year high of $62.60. The firm has a market capitalization of $371.31, a PE ratio of 8.83, a PEG ratio of 0.57 and a beta of 1.14. The company has a current ratio of 2.36, a quick ratio of 1.55 and a debt-to-equity ratio of 1.81.
Veritiv Corporation (NYSE:VRTV) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.32. Veritiv Corporation had a negative net margin of 0.26% and a positive return on equity of 7.71%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Veritiv Corporation’s quarterly revenue was down 1.5% on a year-over-year basis. equities analysts forecast that Veritiv Corporation will post 1.89 earnings per share for the current year.
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In other Veritiv Corporation news, Chairman Mary A. Laschinger acquired 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was purchased at an average price of $30.22 per share, for a total transaction of $99,726.00. Following the completion of the acquisition, the chairman now owns 63,993 shares of the company’s stock, valued at approximately $1,933,868.46. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles Ward acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average price of $23.63 per share, with a total value of $472,600.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $472,600. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.
Several hedge funds have recently made changes to their positions in VRTV. State of Alaska Department of Revenue grew its holdings in shares of Veritiv Corporation by 78.0% in the second quarter. State of Alaska Department of Revenue now owns 2,260 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 990 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Veritiv Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,295 shares of the basic materials company’s stock valued at $103,000 after purchasing an additional 344 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Veritiv Corporation in the second quarter valued at approximately $124,000. BNP Paribas Arbitrage SA grew its holdings in shares of Veritiv Corporation by 49.8% in the second quarter. BNP Paribas Arbitrage SA now owns 4,420 shares of the basic materials company’s stock valued at $199,000 after purchasing an additional 1,469 shares in the last quarter. Finally, Nine Chapters Capital Management LLC acquired a new position in shares of Veritiv Corporation in the third quarter valued at approximately $228,000. Hedge funds and other institutional investors own 92.57% of the company’s stock.
About Veritiv Corporation
Veritiv Corporation is a business-to-business distributor of print, publishing, packaging and facility solutions. The Company also provides logistics and supply chain management solutions to its customers. The Company’s segments are Print, Publishing & Print Management (Publishing), Packaging, Facility Solutions, and Corporate & Other.
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