Veritiv Corp (NYSE:VRTV) – Stock analysts at SunTrust Banks increased their Q1 2018 EPS estimates for Veritiv in a note issued to investors on Wednesday. SunTrust Banks analyst J. Freuchtel now forecasts that the basic materials company will post earnings per share of $0.85 for the quarter, up from their previous estimate of $0.61. SunTrust Banks has a “Hold” rating on the stock. SunTrust Banks also issued estimates for Veritiv’s Q2 2018 earnings at $0.96 EPS, Q3 2018 earnings at $1.05 EPS, Q4 2018 earnings at $1.59 EPS and FY2018 earnings at $4.52 EPS.
A number of other analysts have also weighed in on VRTV. ValuEngine lowered shares of Veritiv from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research raised shares of Veritiv from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 25th. BidaskClub lowered shares of Veritiv from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Bank of America reduced their price objective on shares of Veritiv from $36.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 8th. Finally, Wells Fargo & Co lowered shares of Veritiv from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $33.00.
Shares of Veritiv (NYSE:VRTV) opened at $28.05 on Friday. 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 1 year low of $20.35 and a 1 year high of $62.60. The firm has a market cap of $450.60 and a PE ratio of -20.47.
Veritiv (NYSE:VRTV) last posted its quarterly earnings data on Tuesday, November 7th. The basic materials company reported $1.13 earnings per share for the quarter, topping the Zacks’ 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%.
Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA grew its stake in Veritiv by 53.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,782 shares of the basic materials company’s stock worth $220,000 after acquiring an additional 2,362 shares in the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of Veritiv by 3.9% during the second quarter. Thrivent Financial For Lutherans now owns 6,860 shares of the basic materials company’s stock valued at $309,000 after purchasing an additional 260 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Veritiv by 43.4% during the second quarter. Alliancebernstein L.P. now owns 6,934 shares of the basic materials company’s stock valued at $312,000 after purchasing an additional 2,100 shares in the last quarter. Nine Chapters Capital Management LLC bought a new position in shares of Veritiv during the third quarter valued at approximately $228,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Veritiv during the third quarter valued at approximately $246,000. Institutional investors and hedge funds own 90.17% of the company’s stock.
In related news, Director Charles Ward bought 20,000 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were acquired at an average cost of $23.63 per share, for a total transaction of $472,600.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $472,600. The purchase was disclosed in a document filed with the SEC, which is available through 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 stock was bought at an average price of $23.69 per share, for a total transaction of $118,450.00. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate insiders.
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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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