Wells Fargo & Co Begins Coverage on Veritiv Corp (VRTV)
Several other brokerages also recently issued reports on VRTV. Bank of America Corp began coverage on Veritiv Corp in a research report on Wednesday, January 11th. They set a buy rating for the company. Zacks Investment Research upgraded Veritiv Corp from a strong sell rating to a hold rating in a research report on Wednesday, January 11th.
Veritiv Corp (NYSE:VRTV) opened at 53.15 on Wednesday. Veritiv Corp has a 12 month low of $34.10 and a 12 month high of $62.60. The company has a 50-day moving average price of $55.75 and a 200 day moving average price of $52.98. The stock has a market capitalization of $834.40 million, a price-to-earnings ratio of 40.88 and a beta of 1.28.
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Veritiv Corp (NYSE:VRTV) last posted its quarterly earnings results on Tuesday, March 14th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.64. Veritiv Corp had a net margin of 0.32% and a return on equity of 7.15%. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.12 billion. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities analysts predict that Veritiv Corp will post $3.13 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of VRTV. OMERS ADMINISTRATION Corp bought a new position in shares of Veritiv Corp during the third quarter valued at about $222,000. Convergence Investment Partners LLC bought a new position in shares of Veritiv Corp during the third quarter valued at about $1,417,000. Gargoyle Investment Advisor L.L.C. bought a new position in shares of Veritiv Corp during the third quarter valued at about $412,000. Matarin Capital Management LLC bought a new position in shares of Veritiv Corp during the third quarter valued at about $2,621,000. Finally, BlackRock Fund Advisors increased its position in shares of Veritiv Corp by 9.6% in the third quarter. BlackRock Fund Advisors now owns 583,924 shares of the company’s stock valued at $29,295,000 after buying an additional 50,968 shares in the last quarter. Hedge funds and other institutional investors own 95.69% of the company’s stock.
Veritiv Corp Company Profile
Veritiv Corporation (Veritiv) is a business-to-business distributor of print, publishing, packaging, facility and logistics solutions. Veritiv operates through four segments: Print, Publishing, Packaging and Facility Solutions. The Print segment sells and distributes commercial printing, writing, copying, digital, wide format and specialty paper products, graphics consumables and graphics equipment.
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