Veritiv Corporation (VRTV) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Veritiv Corporation (NYSE:VRTV) from a sell rating to a buy rating in a report issued on Thursday morning. Zacks Investment Research currently has $38.00 price objective on the basic materials company’s stock.

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. “

Several other research firms also recently weighed in on VRTV. BidaskClub raised shares of Veritiv Corporation from a sell rating to a hold rating in a report on Thursday, September 28th. Bank of America Corporation downgraded shares of Veritiv Corporation from a buy rating to a neutral rating and reduced their price objective for the stock from $64.00 to $36.00 in a report on Thursday, August 3rd. William Blair downgraded shares of Veritiv Corporation from an outperform rating to a market perform rating in a report on Wednesday, August 9th. TheStreet downgraded shares of Veritiv Corporation from a c- rating to a d+ rating in a report on Monday, August 21st. Finally, SunTrust Banks, Inc. raised shares of Veritiv Corporation from a hold rating to a buy rating and set a $45.00 price objective for the company in a report on Thursday, August 3rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Veritiv Corporation presently has an average rating of Hold and an average price target of $39.20.

Veritiv Corporation (NYSE:VRTV) opened at 32.50 on Thursday. Veritiv Corporation has a one year low of $26.85 and a one year high of $62.60. The stock has a 50 day moving average of $30.25 and a 200-day moving average of $40.16. The stock’s market cap is $510.25 million.

Veritiv Corporation (NYSE:VRTV) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.32. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. Veritiv Corporation had a negative net margin of 0.02% and a positive return on equity of 5.43%. The business’s revenue was down 1.5% compared to the same quarter last year. Analysts anticipate that Veritiv Corporation will post $1.48 EPS for the current year.

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In related news, Chairman Mary A. Laschinger acquired 3,300 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were purchased at an average price of $30.22 per share, for a total transaction of $99,726.00. Following the acquisition, the chairman now owns 63,993 shares in the company, valued at $1,933,868.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of VRTV. Nationwide Fund Advisors raised its holdings in Veritiv Corporation by 64.5% during the 1st quarter. Nationwide Fund Advisors now owns 15,322 shares of the basic materials company’s stock worth $794,000 after buying an additional 6,005 shares during the period. Russell Investments Group Ltd. grew its stake in Veritiv Corporation by 70.4% during the 1st quarter. Russell Investments Group Ltd. now owns 26,464 shares of the basic materials company’s stock valued at $1,371,000 after acquiring an additional 10,930 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Veritiv Corporation by 26.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 16,310 shares of the basic materials company’s stock valued at $844,000 after acquiring an additional 3,387 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Veritiv Corporation by 24.8% during the 1st quarter. Bank of New York Mellon Corp now owns 118,826 shares of the basic materials company’s stock valued at $6,154,000 after acquiring an additional 23,609 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Veritiv Corporation by 4.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,951 shares of the basic materials company’s stock valued at $153,000 after acquiring an additional 122 shares in the last quarter. Hedge funds and other 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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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. “

Several other research firms also recently weighed in on VRTV. BidaskClub raised shares of Veritiv Corporation from a sell rating to a hold rating in a report on Thursday, September 28th. Bank of America Corporation downgraded shares of Veritiv Corporation from a buy rating to a neutral rating and reduced their price objective for the stock from $64.00 to $36.00 in a report on Thursday, August 3rd. William Blair downgraded shares of Veritiv Corporation from an outperform rating to a market perform rating in a report on Wednesday, August 9th. TheStreet downgraded shares of Veritiv Corporation from a c- rating to a d+ rating in a report on Monday, August 21st. Finally, SunTrust Banks, Inc. raised shares of Veritiv Corporation from a hold rating to a buy rating and set a $45.00 price objective for the company in a report on Thursday, August 3rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Veritiv Corporation presently has an average rating of Hold and an average price target of $39.20.

Veritiv Corporation (NYSE:VRTV) opened at 32.50 on Thursday. Veritiv Corporation has a one year low of $26.85 and a one year high of $62.60. The stock has a 50 day moving average of $30.25 and a 200-day moving average of $40.16. The stock’s market cap is $510.25 million.

Veritiv Corporation (NYSE:VRTV) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.32. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. Veritiv Corporation had a negative net margin of 0.02% and a positive return on equity of 5.43%. The business’s revenue was down 1.5% compared to the same quarter last year. Analysts anticipate that Veritiv Corporation will post $1.48 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This report was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another site, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this report can be accessed at https://ledgergazette.com/2017/10/09/veritiv-corporation-vrtv-upgraded-to-buy-by-zacks-investment-research.html.

In related news, Chairman Mary A. Laschinger acquired 3,300 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were purchased at an average price of $30.22 per share, for a total transaction of $99,726.00. Following the acquisition, the chairman now owns 63,993 shares in the company, valued at $1,933,868.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of VRTV. Nationwide Fund Advisors raised its holdings in Veritiv Corporation by 64.5% during the 1st quarter. Nationwide Fund Advisors now owns 15,322 shares of the basic materials company’s stock worth $794,000 after buying an additional 6,005 shares during the period. Russell Investments Group Ltd. grew its stake in Veritiv Corporation by 70.4% during the 1st quarter. Russell Investments Group Ltd. now owns 26,464 shares of the basic materials company’s stock valued at $1,371,000 after acquiring an additional 10,930 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Veritiv Corporation by 26.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 16,310 shares of the basic materials company’s stock valued at $844,000 after acquiring an additional 3,387 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Veritiv Corporation by 24.8% during the 1st quarter. Bank of New York Mellon Corp now owns 118,826 shares of the basic materials company’s stock valued at $6,154,000 after acquiring an additional 23,609 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Veritiv Corporation by 4.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,951 shares of the basic materials company’s stock valued at $153,000 after acquiring an additional 122 shares in the last quarter. Hedge funds and other 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.

Get a free copy of the Zacks research report on Veritiv Corporation (VRTV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Veritiv Corporation (NYSE:VRTV)

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