Brokerages Set Veritiv Corporation (VRTV) Price Target at $31.33

Veritiv Corporation (NYSE:VRTV) has been given a consensus rating of “Hold” by the eight ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $31.33.

Several brokerages have commented on VRTV. William Blair downgraded shares of Veritiv Corporation from an “outperform” rating to a “market perform” rating in a report on Thursday, August 3rd. Zacks Investment Research cut shares of Veritiv Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. TheStreet cut shares of Veritiv Corporation from a “c-” rating to a “d+” rating in a research note on Monday, August 21st. Bank of America Corporation decreased their price target on shares of Veritiv Corporation from $36.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. Finally, BidaskClub raised shares of Veritiv Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th.

In other news, Director Charles Ward bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average cost of $23.63 per share, with a total value of $472,600.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at $472,600. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mary A. Laschinger bought 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was purchased at an average cost of $30.22 per share, with a total value of $99,726.00. Following the completion of the purchase, the chairman now directly owns 63,993 shares of the company’s stock, valued at approximately $1,933,868.46. The disclosure for this purchase can be found here. 0.25% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in VRTV. Prudential Financial Inc. boosted its position in Veritiv Corporation by 13.7% during the first quarter. Prudential Financial Inc. now owns 23,870 shares of the basic materials company’s stock worth $1,236,000 after purchasing an additional 2,883 shares during the period. Alliancebernstein L.P. boosted its position in Veritiv Corporation by 14.1% during the first quarter. Alliancebernstein L.P. now owns 4,834 shares of the basic materials company’s stock worth $250,000 after purchasing an additional 598 shares during the period. Principal Financial Group Inc. boosted its position in Veritiv Corporation by 25.2% during the first quarter. Principal Financial Group Inc. now owns 91,267 shares of the basic materials company’s stock worth $4,728,000 after purchasing an additional 18,343 shares during the period. Legal & General Group Plc boosted its position in Veritiv Corporation by 22.9% during the first quarter. Legal & General Group Plc now owns 20,027 shares of the basic materials company’s stock worth $1,036,000 after purchasing an additional 3,738 shares during the period. Finally, Thrivent Financial For Lutherans boosted its position in Veritiv Corporation by 30.7% during the first quarter. Thrivent Financial For Lutherans now owns 6,600 shares of the basic materials company’s stock worth $342,000 after purchasing an additional 1,550 shares during the period. 93.45% of the stock is owned by hedge funds and other institutional investors.

Shares of Veritiv Corporation (NYSE:VRTV) traded up $0.25 during mid-day trading on Friday, reaching $23.90. 115,800 shares of the company’s stock traded hands, compared to its average volume of 113,644. The company has a quick ratio of 1.51, a current ratio of 2.36 and a debt-to-equity ratio of 1.81. The firm has a market cap of $371.31, a P/E ratio of 8.92 and a beta of 1.22. Veritiv Corporation has a 52-week low of $20.35 and a 52-week high of $62.60.

WARNING: “Brokerages Set Veritiv Corporation (VRTV) Price Target at $31.33” was published by Markets Daily and is the property of of Markets Daily. If you are reading this piece on another site, it was stolen and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.themarketsdaily.com/2017/11/14/brokerages-set-veritiv-corporation-vrtv-price-target-at-31-33.html.

About Veritiv Corporation

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)

Receive News & Ratings for Veritiv Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritiv Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply