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.
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.
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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