Veritiv (NYSE:VRTV) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.
VRTV has been the topic of several other research reports. Bank of America downgraded Veritiv from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research note on Monday, April 2nd. SunTrust Banks downgraded Veritiv from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Zacks Investment Research raised Veritiv from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a research note on Saturday, February 3rd. Finally, Wells Fargo raised their price objective on Veritiv from $30.00 to $33.00 and gave the stock a “market perform” rating in a research note on Monday, April 2nd. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $34.40.
Veritiv opened at $30.20 on Friday, MarketBeat reports. Veritiv has a fifty-two week low of $20.35 and a fifty-two week high of $46.10. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.53 and a current ratio of 2.43. The stock has a market capitalization of $467.26 million, a price-to-earnings ratio of -35.53, a PEG ratio of 1.29 and a beta of 0.55.
Veritiv (NYSE:VRTV) last posted its earnings results on Tuesday, May 8th. The basic materials company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.15). Veritiv had a negative net margin of 0.32% and a positive return on equity of 8.92%. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company posted ($0.14) EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. equities analysts predict that Veritiv will post 3.81 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of VRTV. Vaughan Nelson Investment Management L.P. bought a new position in shares of Veritiv in the first quarter worth about $13,010,000. Donald Smith & CO. Inc. raised its stake in shares of Veritiv by 354.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 261,004 shares of the basic materials company’s stock worth $7,543,000 after buying an additional 203,623 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Veritiv by 15.1% during the first quarter. Dimensional Fund Advisors LP now owns 871,757 shares of the basic materials company’s stock worth $34,173,000 after purchasing an additional 114,082 shares in the last quarter. BlackRock Inc. grew its position in shares of Veritiv by 5.3% during the fourth quarter. BlackRock Inc. now owns 1,508,307 shares of the basic materials company’s stock worth $43,589,000 after purchasing an additional 75,264 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Veritiv by 69.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 116,571 shares of the basic materials company’s stock worth $3,789,000 after purchasing an additional 47,622 shares in the last quarter. 94.13% of the stock is currently owned by hedge funds and other institutional investors.
Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard and custom packaging solutions.
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