Veritiv (NYSE:VRTV) Rating Increased to Hold at Zacks Investment Research

Veritiv (NYSE:VRTV) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday, January 25th.

According to Zacks, “Veritiv Corporation engages in offering North American business-to-business distribution solutions. It provides packaging, print and print management, publishing, supply chain, facility and logistics solutions that span the entire lifecycle of core business operations. The company’s customers vary across a number of industries, including manufacturing, healthcare, retail and more. Veritiv Corporation is headquartered in Atlanta, Georgia. “

Other equities research analysts have also issued research reports about the company. BidaskClub lowered Veritiv from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. ValuEngine lowered Veritiv from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Wells Fargo & Co lowered Veritiv from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 8th. Bank of America upgraded Veritiv from a “neutral” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Tuesday, November 21st. Finally, Barclays decreased their price objective on Veritiv from $25.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.75.

Veritiv (NYSE:VRTV) opened at $22.65 on Thursday. Veritiv has a fifty-two week low of $20.35 and a fifty-two week high of $62.60. The company has a current ratio of 2.36, a quick ratio of 1.51 and a debt-to-equity ratio of 1.81. The stock has a market cap of $356.39, a PE ratio of -16.41, a PEG ratio of 0.81 and a beta of 0.95.

In other news, 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 cost of $23.69 per share, with a total value of $118,450.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.25% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its stake in shares of Veritiv by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,295 shares of the basic materials company’s stock valued at $103,000 after buying an additional 344 shares during the period. BNP Paribas Arbitrage SA increased its position in Veritiv by 53.4% during the third quarter. BNP Paribas Arbitrage SA now owns 6,782 shares of the basic materials company’s stock worth $220,000 after buying an additional 2,362 shares during the period. Nine Chapters Capital Management LLC acquired a new position in Veritiv during the third quarter worth approximately $228,000. Alps Advisors Inc. acquired a new position in Veritiv during the fourth quarter worth approximately $236,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Veritiv during the third quarter worth approximately $246,000. 89.90% of the stock is owned by institutional investors.

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About Veritiv

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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