Verso Corporation (NYSE:VRS) Given Buy Rating at B. Riley
Verso Corporation (NYSE:VRS)‘s stock had its “buy” rating reissued by analysts at B. Riley in a research report issued on Monday. They currently have a $11.25 target price on the basic materials company’s stock. B. Riley’s price objective would indicate a potential upside of 139.87% from the company’s previous close.
VRS has been the subject of several other research reports. Zacks Investment Research upgraded Verso Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. ValuEngine cut Verso Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 18th.
Verso Corporation (VRS) traded down 2.29% during mid-day trading on Monday, hitting $4.69. 113,722 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $4.52 and its 200-day moving average price is $5.74. Verso Corporation has a one year low of $3.17 and a one year high of $11.40. The stock has a market cap of $161.29 million and a PE ratio of 3.05.
Verso Corporation (NYSE:VRS) last announced its quarterly earnings data on Thursday, May 18th. The basic materials company reported ($0.61) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.61). The business had revenue of $616 million during the quarter, compared to analysts’ expectations of $615.50 million. Verso Corporation had a return on equity of 581.15% and a net margin of 47.25%. On average, analysts forecast that Verso Corporation will post ($0.71) EPS for the current fiscal year.
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Several institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in shares of Verso Corporation during the first quarter valued at about $320,000. BlueCrest Capital Management Ltd bought a new position in shares of Verso Corporation during the first quarter valued at about $147,000. Russell Investments Group Ltd. boosted its position in shares of Verso Corporation by 36.9% in the first quarter. Russell Investments Group Ltd. now owns 272,197 shares of the basic materials company’s stock valued at $1,632,000 after buying an additional 73,378 shares during the last quarter. Aegis Financial Corp boosted its position in shares of Verso Corporation by 0.4% in the first quarter. Aegis Financial Corp now owns 657,957 shares of the basic materials company’s stock valued at $3,948,000 after buying an additional 2,724 shares during the last quarter. Finally, Dialectic Capital Management LP boosted its position in shares of Verso Corporation by 37.8% in the first quarter. Dialectic Capital Management LP now owns 434,000 shares of the basic materials company’s stock valued at $2,604,000 after buying an additional 119,000 shares during the last quarter. Institutional investors and hedge funds own 57.94% of the company’s stock.
About Verso Corporation
Verso Corporation is a producer of coated papers, which are used in magazines, catalogs, advertising brochures and annual reports, among other media and marketing publications. The Company operates through two segments: paper and pulp. The Paper segment includes paper products, which are used in media and marketing applications, including catalogs, magazines, and commercial printing applications, such as advertising brochures, annual reports and direct-mail advertising.
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