Veritiv Corp. (VRTV) Lifted to Hold at Zacks Investment Research
Veritiv Corp. (NYSE:VRTV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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. “
Veritiv Corp. (NYSE:VRTV) opened at 52.95 on Wednesday. Veritiv Corp. has a one year low of $27.44 and a one year high of $54.80. The company has a 50-day moving average price of $50.51 and a 200-day moving average price of $43.33. The firm has a market cap of $847.20 million, a PE ratio of 23.67 and a beta of 1.50.
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Veritiv Corp. (NYSE:VRTV) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by $0.10. The company earned $2.10 billion during the quarter, compared to the consensus estimate of $2.04 billion. Veritiv Corp. had a net margin of 0.42% and a return on equity of 11.04%. Equities analysts predict that Veritiv Corp. will post $2.77 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Fund Advisors boosted its position in Veritiv Corp. by 4.5% in the second quarter. BlackRock Fund Advisors now owns 532,956 shares of the company’s stock valued at $20,028,000 after buying an additional 22,740 shares in the last quarter. Vanguard Group Inc. boosted its position in Veritiv Corp. by 3.9% in the second quarter. Vanguard Group Inc. now owns 372,242 shares of the company’s stock valued at $13,988,000 after buying an additional 13,837 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Veritiv Corp. by 21.1% in the second quarter. Dimensional Fund Advisors LP now owns 282,718 shares of the company’s stock valued at $10,624,000 after buying an additional 49,169 shares in the last quarter. Janus Capital Management LLC boosted its position in Veritiv Corp. by 3.5% in the second quarter. Janus Capital Management LLC now owns 112,678 shares of the company’s stock valued at $4,234,000 after buying an additional 3,831 shares in the last quarter. Finally, Bridgeway Capital Management Inc. boosted its position in Veritiv Corp. by 269.7% in the second quarter. Bridgeway Capital Management Inc. now owns 92,494 shares of the company’s stock valued at $3,476,000 after buying an additional 67,472 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors.
About Veritiv Corp.
Veritiv Corporation (Veritiv) is a business-to-business distributor of print, publishing, packaging, facility and logistics solutions. The Company operates from more than 180 distribution centers primarily throughout the United States, Canada and Mexico, serving customers across a d range of industries.
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