Verso Corporation (VRS) Upgraded by Zacks Investment Research to Buy
Verso Corporation (NYSE:VRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $7.75 price objective on the basic materials company’s stock. Zacks Investment Research‘s price target points to a potential upside of 8.39% from the company’s previous close.
According to Zacks, “Verso Corporation is engaged in the paper industry. The Company produces coated freesheet, coated ground wood and uncoated super calendered papers and pulp. It serves to magazine and catalog publishers, commercial printers, specialty retail merchandisers and paper merchants. The company operates primarily in Kentucky, Maine, Maryland, Michigan, Minnesota and Wisconsin. Verso Corporation is based in Memphis, United States. “
Several other equities research analysts also recently commented on VRS. ValuEngine downgraded shares of Verso Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. B. Riley reissued a “buy” rating and set a $11.25 target price on shares of Verso Corporation in a research report on Monday, August 7th. Finally, BWS Financial raised shares of Verso Corporation from a “buy” rating to a “strong-buy” rating and set a $15.00 target price for the company in a research report on Wednesday, October 18th.
Verso Corporation (VRS) opened at 7.15 on Tuesday. The company has a market cap of $246.35 million, a PE ratio of 4.01 and a beta of 1.29. The firm’s 50-day moving average price is $5.50 and its 200-day moving average price is $5.50. Verso Corporation has a 12-month low of $3.17 and a 12-month high of $8.43.
Verso Corporation (NYSE:VRS) last announced its quarterly earnings data on Wednesday, August 9th. The basic materials company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.39). The company had revenue of $585.00 million for the quarter, compared to analyst estimates of $579.52 million. Verso Corporation had a net margin of 47.46% and a return on equity of 168.52%. Equities research analysts forecast that Verso Corporation will post ($1.25) earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the business. Voya Investment Management LLC bought a new stake in Verso Corporation in the 2nd quarter worth about $104,000. California Public Employees Retirement System bought a new stake in Verso Corporation in the 1st quarter worth about $145,000. BlueCrest Capital Management Ltd bought a new stake in Verso Corporation in the 1st quarter worth about $147,000. Rhumbline Advisers bought a new stake in Verso Corporation in the 2nd quarter worth about $166,000. Finally, KCG Holdings Inc. bought a new stake in Verso Corporation in the 1st quarter worth about $170,000. 53.56% of the stock is owned by institutional investors and hedge funds.
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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