Veritiv Corp (VRTV) Lifted to “Outperform” at Wells Fargo & Co
Veritiv Corp (NYSE:VRTV) was upgraded by equities research analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, The Fly reports.
Separately, Zacks Investment Research downgraded Veritiv Corp from a “buy” rating to a “hold” rating in a report on Saturday, March 18th.
Shares of Veritiv Corp (NYSE:VRTV) opened at 39.95 on Thursday. The stock’s 50 day moving average is $47.66 and its 200 day moving average is $52.14. The stock has a market cap of $626.82 million, a price-to-earnings ratio of 41.44 and a beta of 1.28. Veritiv Corp has a 52-week low of $34.10 and a 52-week high of $62.60.
Veritiv Corp (NYSE:VRTV) last issued its quarterly earnings results on Wednesday, May 3rd. The basic materials company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. Veritiv Corp had a return on equity of 7.15% and a net margin of 0.32%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts predict that Veritiv Corp will post $2.78 EPS for the current fiscal year.
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In other news, Chairman Mary A. Laschinger bought 6,100 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was purchased at an average price of $41.71 per share, with a total value of $254,431.00. Following the completion of the acquisition, the chairman now directly owns 60,693 shares of the company’s stock, valued at approximately $2,531,505.03. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Thomas S. Lazzaro bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were purchased at an average cost of $40.90 per share, with a total value of $204,500.00. Following the acquisition, the senior vice president now directly owns 17,505 shares of the company’s stock, valued at $715,954.50. The disclosure for this purchase can be found here. Insiders have purchased 12,100 shares of company stock valued at $500,431 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in Veritiv Corp by 44.2% in the first quarter. Victory Capital Management Inc. now owns 1,951 shares of the basic materials company’s stock worth $101,000 after buying an additional 598 shares during the period. Acrospire Investment Management LLC purchased a new stake in Veritiv Corp during the first quarter worth approximately $121,000. Mason Street Advisors LLC increased its stake in Veritiv Corp by 30.5% in the first quarter. Mason Street Advisors LLC now owns 2,685 shares of the basic materials company’s stock worth $139,000 after buying an additional 628 shares during the period. BNP Paribas Arbitrage SA increased its stake in Veritiv Corp by 4.3% in the first quarter. BNP Paribas Arbitrage SA now owns 2,951 shares of the basic materials company’s stock worth $153,000 after buying an additional 122 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Veritiv Corp during the first quarter worth approximately $212,000. 95.69% of the stock is owned by hedge funds and other institutional investors.
Veritiv Corp Company Profile
Veritiv Corporation is a business-to-business distributor of print, publishing, packaging and facility solutions. The Company also provides logistics and supply chain management solutions to its customers. The Company’s segments are Print, Publishing & Print Management (Publishing), Packaging, Facility Solutions, and Corporate & Other.
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