Veritiv Corp (VRTV) Receives $35.60 Consensus Target Price from Brokerages

Shares of Veritiv Corp (NYSE:VRTV) have been given an average rating of “Hold” by the eight analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $35.60.

Several analysts recently issued reports on the company. Zacks Investment Research downgraded Veritiv from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. TheStreet raised Veritiv from a “d+” rating to a “c” rating in a report on Monday, August 13th. ValuEngine raised Veritiv from a “hold” rating to a “buy” rating in a report on Friday, August 10th. SunTrust Banks raised their price target on Veritiv to $40.00 and gave the stock a “hold” rating in a report on Friday, August 10th. Finally, Sidoti assumed coverage on Veritiv in a report on Wednesday, October 24th. They issued a “buy” rating and a $44.00 price target on the stock.

Shares of VRTV opened at $32.25 on Friday. The company has a market capitalization of $505.49 million, a PE ratio of -37.94 and a beta of 0.60. The company has a quick ratio of 1.53, a current ratio of 2.32 and a debt-to-equity ratio of 1.81. Veritiv has a 52 week low of $20.35 and a 52 week high of $51.00.

Veritiv (NYSE:VRTV) last issued its earnings results on Thursday, August 9th. The basic materials company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.67). The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.07 billion. Veritiv had a positive return on equity of 7.33% and a negative net margin of 0.33%. Equities analysts expect that Veritiv will post 3.54 earnings per share for the current year.

In related news, major shareholder Bain Capital Investors Llc sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $41.40, for a total value of $62,100,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Piedmont Investment Advisors LLC bought a new stake in Veritiv during the 2nd quarter valued at $105,000. Metropolitan Life Insurance Co. NY raised its stake in Veritiv by 36.0% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 3,995 shares of the basic materials company’s stock valued at $159,000 after acquiring an additional 1,058 shares in the last quarter. Alps Advisors Inc. bought a new stake in Veritiv during the 2nd quarter valued at $236,000. Paloma Partners Management Co bought a new stake in Veritiv during the 2nd quarter valued at $336,000. Finally, Russell Investments Group Ltd. raised its stake in Veritiv by 79.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,805 shares of the basic materials company’s stock valued at $391,000 after acquiring an additional 4,342 shares in the last quarter. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

About Veritiv

Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard and custom packaging solutions.

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Analyst Recommendations for Veritiv (NYSE:VRTV)

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