Veritiv Corporation (VRTV) Downgraded to “Sell” at BidaskClub

BidaskClub cut shares of Veritiv Corporation (NYSE:VRTV) from a hold rating to a sell rating in a report released on Wednesday.

Several other equities research analysts have also recently commented on VRTV. Zacks Investment Research upgraded shares of Veritiv Corporation from a strong sell rating to a hold rating in a research report on Wednesday, July 5th. Bank of America Corporation cut shares of Veritiv Corporation from a buy rating to a neutral rating and decreased their price objective for the company from $64.00 to $36.00 in a report on Thursday, August 3rd. SunTrust Banks, Inc. upgraded shares of Veritiv Corporation from a hold rating to a buy rating and set a $45.00 price objective for the company in a report on Thursday, August 3rd. They noted that the move was a valuation call. William Blair cut shares of Veritiv Corporation from an outperform rating to a market perform rating in a report on Thursday, August 3rd. Finally, TheStreet cut shares of Veritiv Corporation from a c- rating to a d+ rating in a report on Monday, August 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $39.20.

Veritiv Corporation (VRTV) traded up 1.10% during midday trading on Wednesday, reaching $32.10. 29,540 shares of the company traded hands. The firm’s 50 day moving average price is $30.61 and its 200 day moving average price is $39.66. The firm’s market capitalization is $503.97 million. Veritiv Corporation has a 12 month low of $26.85 and a 12 month high of $62.60.

Veritiv Corporation (NYSE:VRTV) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.32. Veritiv Corporation had a negative net margin of 0.02% and a positive return on equity of 5.43%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, analysts expect that Veritiv Corporation will post $1.48 earnings per share for the current year.

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In related news, Chairman Mary A. Laschinger bought 3,300 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was purchased at an average price of $30.22 per share, with a total value of $99,726.00. Following the completion of the acquisition, the chairman now owns 63,993 shares of the company’s stock, valued at $1,933,868.46. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its holdings in Veritiv Corporation by 4.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,951 shares of the basic materials company’s stock valued at $153,000 after buying an additional 122 shares during the last quarter. Arizona State Retirement System grew its position in shares of Veritiv Corporation by 4.1% during the 1st quarter. Arizona State Retirement System now owns 5,021 shares of the basic materials company’s stock worth $260,000 after buying an additional 200 shares during the period. Thrivent Financial For Lutherans grew its position in shares of Veritiv Corporation by 3.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 6,860 shares of the basic materials company’s stock worth $309,000 after buying an additional 260 shares during the period. Victory Capital Management Inc. grew its position in shares of Veritiv Corporation by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,295 shares of the basic materials company’s stock worth $103,000 after buying an additional 344 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Veritiv Corporation by 0.9% during the 2nd quarter. Nordea Investment Management AB now owns 46,000 shares of the basic materials company’s stock worth $2,070,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 93.10% of the company’s stock.

Veritiv Corporation Company Profile

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.

Analyst Recommendations for Veritiv Corporation (NYSE:VRTV)

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