Verso (NYSE:VRS) had its target price increased by analysts at B. Riley from $11.25 to $20.00 in a research note issued on Wednesday, December 20th, Marketbeat reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. B. Riley’s price target would suggest a potential upside of 18.06% from the company’s current price. B. Riley also issued estimates for Verso’s Q1 2018 earnings at $0.12 EPS, Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.31 EPS and FY2018 earnings at $0.72 EPS.
A number of other research firms also recently commented on VRS. ValuEngine raised shares of Verso from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. BWS Financial upgraded shares of Verso from a “buy” rating to a “strong-buy” rating and set a $15.00 price target on the stock in a report on Wednesday, October 18th. Finally, Zacks Investment Research upgraded shares of Verso from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research note on Tuesday, October 24th.
Shares of Verso (VRS) traded up $0.50 on Wednesday, hitting $16.94. 387,592 shares of the stock traded hands, compared to its average volume of 750,769. The stock has a market capitalization of $560.38 and a P/E ratio of -10.08. Verso has a 1-year low of $3.17 and a 1-year high of $17.80. The company has a current ratio of 2.15, a quick ratio of 0.80 and a debt-to-equity ratio of 0.35.
In other news, major shareholder Mudrick Capital Management, L. sold 125,000 shares of Verso stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $16.91, for a total transaction of $2,113,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 1,286,595 shares of company stock valued at $21,508,948. Insiders own 4.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Donald Smith & CO. Inc. boosted its stake in Verso by 34.2% during the 2nd 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 last quarter. Vanguard Group Inc. boosted its position in shares of Verso by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,265,919 shares of the basic materials company’s stock valued at $5,937,000 after acquiring an additional 58,642 shares during the last quarter. Aegis Financial Corp boosted its position in shares of Verso by 9.9% during the 2nd quarter. Aegis Financial Corp now owns 723,389 shares of the basic materials company’s stock valued at $3,393,000 after acquiring an additional 65,432 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Verso by 88.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 415,309 shares of the basic materials company’s stock valued at $2,114,000 after acquiring an additional 194,634 shares during the last quarter. Finally, B. Riley Financial Inc. acquired a new position in shares of Verso during the 2nd quarter valued at about $1,853,000. 53.22% of the stock is currently owned by institutional investors.
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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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