B. Riley Reiterates $20.00 Price Target for Verso (NYSE:VRS)

B. Riley set a $20.00 price objective on Verso (NYSE:VRS) in a research note issued to investors on Wednesday, January 17th. The firm currently has a buy rating on the basic materials company’s stock.

VRS has been the topic of a number of other research reports. Zacks Investment Research upgraded Verso from a sell rating to a hold rating in a research report on Thursday, October 12th. BWS Financial upped their target price on Verso from $15.00 to $20.00 and gave the company a strong-buy rating in a research report on Friday, November 17th. Finally, ValuEngine upgraded Verso from a sell rating to a hold rating in a research report on Sunday, December 31st.

Shares of Verso (NYSE:VRS) traded up $0.57 during mid-day trading on Wednesday, hitting $15.11. The stock had a trading volume of 409,606 shares, compared to its average volume of 360,597. Verso has a 1-year low of $3.17 and a 1-year high of $18.12. The stock has a market capitalization of $520.62, a price-to-earnings ratio of -8.99 and a beta of 2.02. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.15 and a quick ratio of 0.80.

Verso (NYSE:VRS) last issued its quarterly earnings results on Tuesday, November 14th. The basic materials company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.15). The business had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $632.65 million. Verso had a negative return on equity of 6.58% and a negative net margin of 2.35%. equities analysts expect that Verso will post -1.17 earnings per share for the current year.

In other Verso news, major shareholder Mudrick Capital Management, L. sold 798,849 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $16.74, for a total value of $13,372,732.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 1,286,595 shares of company stock worth $21,508,948. Insiders own 4.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in VRS. Voya Investment Management LLC acquired a new position in shares of Verso during the 2nd quarter worth approximately $104,000. Wells Fargo & Company MN acquired a new position in Verso in the 3rd quarter valued at $130,000. Rhumbline Advisers acquired a new position in Verso in the 2nd quarter valued at $166,000. Schwab Charles Investment Management Inc. acquired a new position in Verso in the 2nd quarter valued at $275,000. Finally, California State Teachers Retirement System acquired a new position in Verso in the 2nd quarter valued at $280,000. Institutional investors and hedge funds own 55.85% of the company’s stock.

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About Verso

Verso Corporation is a producer of coated papers, which are used in magazines, catalogs, advertising brochures and annual reports, among other media and marketing publications. The Company operates through two segments: paper and pulp. The Paper segment includes paper products, which are used in media and marketing applications, including catalogs, magazines, and commercial printing applications, such as advertising brochures, annual reports and direct-mail advertising.

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