Shares of Veritiv Corp (NYSE:VRTV) have earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $39.50.
A number of analysts recently issued reports on VRTV shares. ValuEngine lowered Veritiv from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 6th. TheStreet lowered Veritiv from a “c-” rating to a “d+” rating in a research note on Wednesday, December 26th. Sidoti started coverage on Veritiv in a research note on Wednesday, October 24th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Zacks Investment Research lowered Veritiv from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 17th.
Shares of NYSE:VRTV traded down $0.16 during midday trading on Monday, reaching $34.30. 54,540 shares of the company traded hands, compared to its average volume of 64,173. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.53 and a current ratio of 2.32. Veritiv has a 12 month low of $22.28 and a 12 month high of $51.00. The firm has a market cap of $546.07 million, a price-to-earnings ratio of -40.35 and a beta of 1.22.
Veritiv (NYSE:VRTV) last released its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.21). Veritiv had a negative net margin of 0.15% and a positive return on equity of 6.77%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the firm posted ($0.91) earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts predict that Veritiv will post 2.97 EPS for the current fiscal year.
In other Veritiv news, Chairman Mary A. Laschinger bought 3,350 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were acquired at an average cost of $29.79 per share, for a total transaction of $99,796.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue increased its stake in Veritiv by 14.9% in the 4th quarter. State of Alaska Department of Revenue now owns 4,230 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 550 shares during the last quarter. Federated Investors Inc. PA increased its stake in Veritiv by 2.5% in the 3rd quarter. Federated Investors Inc. PA now owns 41,510 shares of the basic materials company’s stock worth $1,511,000 after acquiring an additional 1,010 shares during the last quarter. Comerica Bank increased its stake in Veritiv by 10.3% in the 4th quarter. Comerica Bank now owns 12,226 shares of the basic materials company’s stock worth $402,000 after acquiring an additional 1,137 shares during the last quarter. Quantamental Technologies LLC bought a new position in Veritiv in the 4th quarter worth about $40,000. Finally, Wells Fargo & Company MN increased its stake in Veritiv by 8.4% in the 3rd quarter. Wells Fargo & Company MN now owns 20,770 shares of the basic materials company’s stock worth $755,000 after acquiring an additional 1,610 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.
Veritiv Company Profile
Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard and custom packaging solutions.
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