ValuEngine cut shares of Veritiv (NYSE:VRTV) from a buy rating to a hold rating in a research note published on Friday.
Several other equities research analysts have also recently issued reports on the stock. Barclays lowered their price objective on shares of Veritiv from $25.00 to $20.00 and set an underweight rating for the company in a research report on Friday, November 10th. Zacks Investment Research raised shares of Veritiv from a sell rating to a hold rating in a research report on Tuesday, December 5th. Bank of America raised shares of Veritiv from a neutral rating to a buy rating and set a $29.00 price objective for the company in a research report on Tuesday, November 21st. Wells Fargo & Co cut shares of Veritiv from an outperform rating to a market perform rating in a research report on Wednesday, November 8th. Finally, BidaskClub cut shares of Veritiv from a hold rating to a sell rating in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Veritiv has a consensus rating of Hold and an average price target of $31.75.
Shares of Veritiv (VRTV) opened at $28.05 on Friday. The stock has a market cap of $440.38, a PE ratio of -20.47, a price-to-earnings-growth ratio of 1.00 and a beta of 1.02. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.36 and a quick ratio of 1.51. Veritiv has a 52-week low of $20.35 and a 52-week high of $62.60.
Veritiv (NYSE:VRTV) last released its quarterly earnings data on Tuesday, November 7th. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.02. Veritiv had a negative net margin of 0.26% and a positive return on equity of 7.71%. equities research analysts anticipate that Veritiv will post -0.94 earnings per share for the current year.
In other Veritiv news, Director Tracy A. Leinbach purchased 5,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was purchased at an average price of $23.69 per share, with a total value of $118,450.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles Ward bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were purchased 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 of the company’s stock, valued at $472,600. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA lifted its position in Veritiv by 53.4% during the third quarter. BNP Paribas Arbitrage SA now owns 6,782 shares of the basic materials company’s stock valued at $220,000 after acquiring an additional 2,362 shares during the last quarter. Nine Chapters Capital Management LLC purchased a new stake in Veritiv during the third quarter valued at approximately $228,000. Crossmark Global Holdings Inc. purchased a new stake in Veritiv during the third quarter valued at approximately $246,000. Aperio Group LLC lifted its position in Veritiv by 86.6% during the third quarter. Aperio Group LLC now owns 8,841 shares of the basic materials company’s stock valued at $287,000 after acquiring an additional 4,102 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in Veritiv during the third quarter valued at approximately $299,000. 90.17% of the stock is owned by institutional investors.
Veritiv 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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