Veritiv Corporation (VRTV) Upgraded at BidaskClub
Veritiv Corporation (NYSE:VRTV) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Saturday.
A number of other research firms have also recently weighed in on VRTV. Zacks Investment Research raised Veritiv Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. William Blair cut Veritiv Corporation from an “outperform” rating to a “market perform” rating in a report on Thursday, August 3rd. Bank of America Corporation cut Veritiv Corporation from a “buy” rating to a “neutral” rating and cut their price target for the stock from $64.00 to $36.00 in a report on Thursday, August 3rd. SunTrust Banks, Inc. raised Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Thursday, August 3rd. They noted that the move was a valuation call. Finally, TheStreet cut Veritiv Corporation from a “c-” rating to a “d+” rating in a report on Monday, August 21st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $45.60.
Shares of Veritiv Corporation (VRTV) opened at 32.45 on Friday. The firm has a 50 day moving average price of $29.49 and a 200-day moving average price of $42.64. The firm’s market capitalization is $509.47 million. Veritiv Corporation has a 52 week low of $26.85 and a 52 week high of $62.60.
Veritiv Corporation (NYSE:VRTV) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Veritiv Corporation’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts predict that Veritiv Corporation will post $1.48 EPS for the current fiscal year.
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In other Veritiv Corporation news, Chairman Mary A. Laschinger bought 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was purchased at an average cost of $30.22 per share, for a total transaction of $99,726.00. Following the completion of the purchase, the chairman now owns 63,993 shares of the company’s stock, valued at approximately $1,933,868.46. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.
Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. increased its stake in Veritiv Corporation by 44.2% during the first quarter. Victory Capital Management Inc. now owns 1,951 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 598 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Veritiv Corporation by 78.0% during the second quarter. State of Alaska Department of Revenue now owns 2,260 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 990 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Veritiv Corporation during the second quarter worth about $124,000. Mason Street Advisors LLC increased its stake in Veritiv Corporation by 30.5% during the first quarter. Mason Street Advisors LLC now owns 2,685 shares of the basic materials company’s stock worth $139,000 after acquiring an additional 628 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Veritiv Corporation by 4.3% during the first quarter. BNP Paribas Arbitrage SA now owns 2,951 shares of the basic materials company’s stock worth $153,000 after acquiring an additional 122 shares during the last quarter. Institutional investors own 93.10% 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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