Veritiv (VRTV) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Veritiv (NYSE:VRTV) from a sell rating to a hold rating in a report issued on Tuesday, December 5th.

According to Zacks, “Veritiv Corporation engages in offering North American business-to-business distribution solutions. It provides packaging, print and print management, publishing, supply chain, facility and logistics solutions that span the entire lifecycle of core business operations. The company’s customers vary across a number of industries, including manufacturing, healthcare, retail and more. Veritiv Corporation is headquartered in Atlanta, Georgia. “

Other research analysts also recently issued reports about the company. Bank of America upgraded Veritiv from a neutral rating to a buy rating and set a $29.00 price objective for the company in a research note on Tuesday, November 21st. TheStreet lowered Veritiv from a c- rating to a d+ rating in a research report on Monday, August 21st. BidaskClub upgraded Veritiv from a sell rating to a hold rating in a research report on Thursday, September 28th. Wells Fargo & Company lowered Veritiv from an outperform rating to a market perform rating in a research report on Wednesday, November 8th. Finally, William Blair lowered Veritiv from an outperform rating to a market perform rating in a report on Wednesday, August 9th. Two 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’s stock. The stock currently has an average rating of Hold and an average target price of $33.00.

Shares of Veritiv (NYSE VRTV) traded up $0.80 during midday trading on Tuesday, hitting $28.45. The stock had a trading volume of 319,513 shares, compared to its average volume of 86,115. The company has a market cap of $446.67, a P/E ratio of 10.74 and a beta of 1.10. The company has a quick ratio of 1.51, a current ratio of 2.36 and a debt-to-equity ratio of 1.81. Veritiv has a 1-year low of $20.35 and a 1-year high of $62.60.

In other news, Director Charles Ward bought 20,000 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were bought at an average cost of $23.63 per share, with a total value of $472,600.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $472,600. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tracy A. Leinbach bought 5,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was purchased at an average cost of $23.69 per share, for a total transaction of $118,450.00. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Baupost Group LLC MA boosted its stake in shares of Veritiv by 0.3% during the 3rd quarter. Baupost Group LLC MA now owns 3,053,724 shares of the basic materials company’s stock worth $99,246,000 after acquiring an additional 9,339 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Veritiv during the 2nd quarter valued at approximately $55,381,000. Dimensional Fund Advisors LP boosted its stake in Veritiv by 10.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 696,156 shares of the basic materials company’s stock valued at $22,626,000 after purchasing an additional 67,374 shares during the period. Vanguard Group Inc. lifted its position in shares of Veritiv by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 589,334 shares of the basic materials company’s stock worth $26,521,000 after acquiring an additional 6,346 shares during the period. Finally, State Street Corp lifted its position in shares of Veritiv by 15.2% in the 2nd quarter. State Street Corp now owns 248,552 shares of the basic materials company’s stock worth $11,193,000 after acquiring an additional 32,835 shares during the period. 90.02% of the stock is currently owned by institutional investors.

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About Veritiv

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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