Verso Corporation (VRS) Cut to “Hold” at Zacks Investment Research
Verso Corporation (NYSE:VRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
Other equities analysts have also recently issued research reports about the stock. B. Riley reiterated a “buy” rating and issued a $11.25 price target on shares of Verso Corporation in a research note on Sunday, August 13th. ValuEngine upgraded shares of Verso Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Finally, BWS Financial upped their price target on shares of Verso Corporation from $15.00 to $20.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 17th.
Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Verso Corporation by 8.0% in the 1st quarter. Vanguard Group Inc. now owns 1,207,277 shares of the basic materials company’s stock worth $7,244,000 after buying an additional 89,588 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Verso Corporation in the 1st quarter worth about $694,000. Bank of New York Mellon Corp raised its position in Verso Corporation by 211.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 165,487 shares of the basic materials company’s stock worth $777,000 after buying an additional 112,269 shares during the last quarter. Wittenberg Investment Management Inc. purchased a new position in Verso Corporation in the 2nd quarter worth about $1,310,000. Finally, B. Riley Financial Inc. purchased a new position in Verso Corporation in the 2nd quarter worth about $1,853,000. 52.14% 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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