Zacks Investment Research upgraded shares of Verso Corporation (NYSE:VRS) from a hold rating to a buy rating in a report issued on Tuesday morning. They currently have $7.75 price objective on the basic materials company’s stock.
According to Zacks, “Verso Corporation is engaged in the paper industry. The Company produces coated freesheet, coated ground wood and uncoated super calendered papers and pulp. It serves to magazine and catalog publishers, commercial printers, specialty retail merchandisers and paper merchants. The company operates primarily in Kentucky, Maine, Maryland, Michigan, Minnesota and Wisconsin. Verso Corporation is based in Memphis, United States. “
Several other equities analysts have also recently issued reports on the stock. BWS Financial raised shares of Verso Corporation from a buy rating to a strong-buy rating and set a $15.00 price objective on the stock in a research note on Wednesday, October 18th. ValuEngine raised shares of Verso Corporation from a strong sell rating to a sell rating in a research note on Friday, September 1st. Finally, B. Riley reaffirmed a buy rating and issued a $11.25 price objective on shares of Verso Corporation in a research note on Sunday, August 13th.
Shares of Verso Corporation (NYSE VRS) traded down 0.42% on Tuesday, hitting $7.11. 150,443 shares of the stock were exchanged. Verso Corporation has a one year low of $4.37 and a one year high of $8.43. The firm has a market cap of $244.98 million, a price-to-earnings ratio of 3.99 and a beta of 1.28. The firm’s 50 day moving average price is $5.60 and its 200 day moving average price is $5.60.
Verso Corporation (NYSE:VRS) last released its quarterly earnings results on Wednesday, August 9th. The basic materials company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.39). Verso Corporation had a return on equity of 168.52% and a net margin of 47.46%. The company had revenue of $585.00 million for the quarter, compared to the consensus estimate of $579.52 million. Equities analysts anticipate that Verso Corporation will post ($1.25) earnings per share for the current year.
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Several hedge funds have recently bought and sold shares of the stock. Donald Smith & CO. Inc. boosted its holdings in shares of Verso Corporation by 34.2% during the second quarter. Donald Smith & CO. Inc. now owns 2,061,732 shares of the basic materials company’s stock worth $9,670,000 after purchasing an additional 524,849 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Verso Corporation by 4.9% during the second quarter. Vanguard Group Inc. now owns 1,265,919 shares of the basic materials company’s stock worth $5,937,000 after purchasing an additional 58,642 shares during the period. Aegis Financial Corp boosted its holdings in shares of Verso Corporation by 9.9% during the second quarter. Aegis Financial Corp now owns 723,389 shares of the basic materials company’s stock worth $3,393,000 after purchasing an additional 65,432 shares during the period. B. Riley Financial Inc. acquired a new stake in shares of Verso Corporation during the second quarter worth approximately $1,853,000. Finally, State Street Corp boosted its holdings in shares of Verso Corporation by 1,555.5% during the second quarter. State Street Corp now owns 355,940 shares of the basic materials company’s stock worth $1,671,000 after purchasing an additional 334,440 shares during the period. Institutional investors and hedge funds own 53.56% of the company’s stock.
Verso Corporation Company Profile
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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