Veritiv Corp. (VRTV) Upgraded at Zacks Investment Research
Veritiv Corp. (NYSE:VRTV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “
Shares of Veritiv Corp. (NYSE:VRTV) opened at 52.95 on Wednesday. The firm has a market capitalization of $847.20 million, a P/E ratio of 23.67 and a beta of 1.50. The company has a 50-day moving average price of $50.51 and a 200-day moving average price of $43.33. Veritiv Corp. has a 12-month low of $27.44 and a 12-month high of $54.80.
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Veritiv Corp. (NYSE:VRTV) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by $0.10. Veritiv Corp. had a return on equity of 11.04% and a net margin of 0.42%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.04 billion. Equities analysts predict that Veritiv Corp. will post $2.77 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Barclays PLC increased its stake in Veritiv Corp. by 669.6% in the second quarter. Barclays PLC now owns 3,186 shares of the company’s stock valued at $119,000 after buying an additional 2,772 shares in the last quarter. Royal Bank of Canada increased its stake in Veritiv Corp. by 85.6% in the first quarter. Royal Bank of Canada now owns 3,322 shares of the company’s stock valued at $124,000 after buying an additional 1,532 shares in the last quarter. Rational Advisors LLC acquired a new stake in Veritiv Corp. during the second quarter valued at $126,000. BlackRock Advisors LLC increased its stake in Veritiv Corp. by 3.3% in the second quarter. BlackRock Advisors LLC now owns 3,872 shares of the company’s stock valued at $146,000 after buying an additional 122 shares in the last quarter. Finally, Monarch Partners Asset Management LLC acquired a new stake in Veritiv Corp. during the second quarter valued at $220,000. 97.48% of the stock is owned by institutional investors and hedge funds.
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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