Shares of Veritiv Corp (NYSE:VRTV) have been given an average rating of “Hold” by the six research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $33.33.
Several brokerages have recently commented on VRTV. Zacks Investment Research lowered shares of Veritiv from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 16th. Bank of America lowered shares of Veritiv from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $37.00 to $26.00 in a research note on Monday, May 13th. ValuEngine lowered shares of Veritiv from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Finally, SunTrust Banks dropped their price target on shares of Veritiv to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, March 6th.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in shares of Veritiv by 3.0% during the 1st quarter. Nordea Investment Management AB now owns 51,400 shares of the basic materials company’s stock worth $1,352,000 after purchasing an additional 1,500 shares during the last quarter. Morgan Stanley increased its stake in shares of Veritiv by 35.1% during the 1st quarter. Morgan Stanley now owns 59,233 shares of the basic materials company’s stock worth $1,559,000 after purchasing an additional 15,399 shares during the last quarter. SEI Investments Co increased its stake in shares of Veritiv by 43.5% during the 1st quarter. SEI Investments Co now owns 9,692 shares of the basic materials company’s stock worth $255,000 after purchasing an additional 2,937 shares during the last quarter. Ellington Management Group LLC acquired a new position in shares of Veritiv during the 1st quarter worth $290,000. Finally, Marshall Wace LLP acquired a new position in shares of Veritiv during the 1st quarter worth $341,000. Institutional investors own 94.21% of the company’s stock.
Veritiv stock traded down $0.57 during trading hours on Wednesday, hitting $19.50. The company had a trading volume of 95,357 shares, compared to its average volume of 81,981. The firm has a market cap of $321.34 million, a PE ratio of 8.23 and a beta of 1.14. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.46 and a current ratio of 2.25. Veritiv has a fifty-two week low of $19.07 and a fifty-two week high of $51.00.
Veritiv (NYSE:VRTV) last released its quarterly earnings data on Thursday, February 28th. The basic materials company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.87). Veritiv had a negative net margin of 0.31% and a positive return on equity of 0.48%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.25 billion.
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, Mexico, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard, custom, and comprehensive packaging solutions.
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