Veritiv Corporation (NYSE:VRTV) PT Lowered to $25.00 at Barclays PLC
Veritiv Corporation (NYSE:VRTV) had its price target decreased by stock analysts at Barclays PLC from $35.00 to $25.00 in a research note issued on Monday. The firm currently has an “underweight” rating on the basic materials company’s stock. Barclays PLC’s target price would indicate a potential downside of 10.71% from the company’s previous close.
Other research analysts have also recently issued research reports about the company. William Blair cut Veritiv Corporation from an “outperform” rating to a “market perform” rating in a research note on Thursday. BidaskClub cut Veritiv Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Zacks Investment Research cut Veritiv Corporation from a “hold” rating to a “sell” rating in a research note on Saturday. Bank of America Corporation cut Veritiv Corporation from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a research note on Thursday. Finally, SunTrust Banks, Inc. raised Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Thursday. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $45.60.
Veritiv Corporation (VRTV) traded up 1.79% during midday trading on Monday, hitting $28.50. 152,596 shares of the company traded hands. The stock has a 50 day moving average of $42.41 and a 200 day moving average of $48.72. The stock’s market cap is $447.42 million. Veritiv Corporation has a 12-month low of $27.90 and a 12-month high of $62.60.
Veritiv Corporation (NYSE:VRTV) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.32. Veritiv Corporation had a positive return on equity of 5.43% and a negative net margin of 0.02%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts predict that Veritiv Corporation will post $1.89 EPS for the current fiscal year.
In related news, SVP Thomas S. Lazzaro purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was acquired at an average price of $40.90 per share, for a total transaction of $204,500.00. Following the transaction, the senior vice president now directly owns 17,505 shares of the company’s stock, valued at approximately $715,954.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its position in Veritiv Corporation by 27.1% in the first quarter. Ameriprise Financial Inc. now owns 62,216 shares of the basic materials company’s stock worth $3,223,000 after buying an additional 13,252 shares during the period. Karp Capital Management Corp bought a new position in Veritiv Corporation during the first quarter worth $277,000. Morgan Stanley raised its position in Veritiv Corporation by 570.2% in the first quarter. Morgan Stanley now owns 209,167 shares of the basic materials company’s stock worth $10,836,000 after buying an additional 177,956 shares during the period. Renaissance Technologies LLC raised its position in Veritiv Corporation by 42.4% in the fourth quarter. Renaissance Technologies LLC now owns 14,100 shares of the basic materials company’s stock worth $758,000 after buying an additional 4,200 shares during the period. Finally, Swiss National Bank raised its position in Veritiv Corporation by 25.7% in the first quarter. Swiss National Bank now owns 19,582 shares of the basic materials company’s stock worth $1,014,000 after buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 88.83% of the company’s stock.
About Veritiv Corporation
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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