Veritiv Corporation (NYSE:VRTV) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
Several other analysts also recently issued reports on VRTV. Zacks Investment Research upgraded Veritiv Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 5th. SunTrust Banks, Inc. upgraded Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Thursday, August 3rd. They noted that the move was a valuation call. Bank of America Corporation downgraded Veritiv Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $64.00 to $36.00 in a research report on Thursday, August 3rd. William Blair downgraded Veritiv Corporation from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 3rd. Finally, Barclays PLC reduced their price objective on Veritiv Corporation from $35.00 to $25.00 and set an “underweight” rating on the stock in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $39.20.
Veritiv Corporation (NYSE VRTV) opened at 32.20 on Wednesday. The stock’s market cap is $505.54 million. Veritiv Corporation has a one year low of $26.85 and a one year high of $62.60. The firm has a 50-day moving average price of $30.51 and a 200-day moving average price of $39.72.
Veritiv Corporation (NYSE:VRTV) last posted 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. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.02 billion. Veritiv Corporation had a positive return on equity of 5.43% and a negative net margin of 0.02%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts predict that Veritiv Corporation will post $1.48 earnings per share for the current year.
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In other news, Chairman Mary A. Laschinger acquired 3,300 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were bought at an average cost of $30.22 per share, for a total transaction of $99,726.00. Following the acquisition, the chairman now directly owns 63,993 shares in the company, valued at approximately $1,933,868.46. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.25% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in VRTV. Janus Henderson Group PLC purchased a new position in shares of Veritiv Corporation in the 2nd quarter worth about $55,381,000. Morgan Stanley grew its stake in shares of Veritiv Corporation by 570.2% in the first quarter. Morgan Stanley now owns 209,167 shares of the basic materials company’s stock valued at $10,836,000 after buying an additional 177,956 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Veritiv Corporation by 31.7% in the second quarter. Dimensional Fund Advisors LP now owns 628,782 shares of the basic materials company’s stock valued at $28,295,000 after buying an additional 151,207 shares in the last quarter. Janus Capital Management LLC grew its stake in shares of Veritiv Corporation by 18.4% in the first quarter. Janus Capital Management LLC now owns 876,895 shares of the basic materials company’s stock valued at $45,423,000 after buying an additional 136,536 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Veritiv Corporation by 28.1% in the first quarter. Vanguard Group Inc. now owns 582,988 shares of the basic materials company’s stock valued at $30,199,000 after buying an additional 127,926 shares in the last quarter. Institutional investors own 93.10% of the company’s stock.
Veritiv Corporation Company Profile
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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