Shares of Veritiv Corp (NYSE:VRTV) have received a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $31.33.
VRTV has been the subject of a number of research analyst reports. TheStreet downgraded shares of Veritiv from a “c-” rating to a “d+” rating in a report on Monday, August 21st. BidaskClub upgraded shares of Veritiv from a “strong sell” rating to a “sell” rating in a report on Saturday, September 16th. Zacks Investment Research upgraded shares of Veritiv from a “sell” rating to a “buy” rating and set a $38.00 price target for the company in a report on Thursday, October 5th. Wells Fargo & Company downgraded shares of Veritiv from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 8th. Finally, Bank of America cut their price target on shares of Veritiv from $36.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, November 8th.
In other Veritiv news, Chairman Mary A. Laschinger bought 3,300 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was purchased at an average cost of $30.22 per share, for a total transaction of $99,726.00. Following the acquisition, the chairman now owns 63,993 shares of the company’s stock, valued at approximately $1,933,868.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tracy A. Leinbach bought 5,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were acquired at an average price of $23.69 per share, with a total value of $118,450.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 28,300 shares of company stock valued at $690,776 over the last 90 days. 0.25% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of VRTV. Janus Henderson Group PLC purchased a new position in Veritiv during the 2nd quarter valued at about $55,381,000. Dimensional Fund Advisors LP boosted its stake in shares of Veritiv by 31.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 628,782 shares of the basic materials company’s stock worth $28,295,000 after purchasing an additional 151,207 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Veritiv by 28.1% during the 1st quarter. Vanguard Group Inc. now owns 582,988 shares of the basic materials company’s stock worth $30,199,000 after purchasing an additional 127,926 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Veritiv by 126.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 154,575 shares of the basic materials company’s stock worth $6,956,000 after purchasing an additional 86,335 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Veritiv by 293.4% during the 2nd quarter. Prudential Financial Inc. now owns 93,909 shares of the basic materials company’s stock worth $4,226,000 after purchasing an additional 70,039 shares during the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.
Shares of Veritiv (NYSE:VRTV) traded down $0.10 on Wednesday, hitting $27.35. 80,630 shares of the stock were exchanged, compared to its average volume of 93,930. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.36 and a quick ratio of 1.51. The stock has a market cap of $429.40, a P/E ratio of 10.32 and a beta of 1.10. Veritiv has a 1-year low of $20.35 and a 1-year high of $62.60.
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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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