Verso (NYSE:VRS) Upgraded by B. Riley to “Buy”

Verso (NYSE:VRS) was upgraded by research analysts at B. Riley from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has a $24.00 price target on the basic materials company’s stock, up from their previous price target of $16.00. B. Riley’s target price suggests a potential upside of 28.27% from the stock’s current price.

Several other research analysts have also recently weighed in on VRS. Zacks Investment Research upgraded shares of Verso from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Saturday, October 5th. ValuEngine upgraded shares of Verso from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Shares of Verso stock opened at $18.71 on Wednesday. The company’s fifty day simple moving average is $13.65 and its 200-day simple moving average is $15.64. The stock has a market capitalization of $515.16 million, a PE ratio of 5.06 and a beta of 2.03. Verso has a 1-year low of $9.61 and a 1-year high of $26.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.07 and a quick ratio of 0.63.

Verso (NYSE:VRS) last issued its quarterly earnings results on Tuesday, November 12th. The basic materials company reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $1.02. The business had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $629.70 million. Verso had a net margin of 3.64% and a return on equity of 18.97%. As a group, research analysts anticipate that Verso will post 0.89 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. lifted its stake in Verso by 129.5% in the third quarter. Donald Smith & CO. Inc. now owns 520,822 shares of the basic materials company’s stock valued at $6,448,000 after buying an additional 293,886 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new position in Verso during the third quarter worth about $464,000. Skylands Capital LLC boosted its stake in shares of Verso by 16.2% in the 3rd quarter. Skylands Capital LLC now owns 716,400 shares of the basic materials company’s stock worth $8,869,000 after buying an additional 100,000 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Verso by 8.7% in the 3rd quarter. Rhumbline Advisers now owns 55,604 shares of the basic materials company’s stock worth $688,000 after buying an additional 4,464 shares during the last quarter. Finally, Strs Ohio lifted its position in shares of Verso by 36.9% during the third quarter. Strs Ohio now owns 50,500 shares of the basic materials company’s stock worth $625,000 after acquiring an additional 13,600 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

Verso Company Profile

Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated freesheet and coated groundwood, specialty, packaging, inkjet and digital, supercalendered, and uncoated freesheet papers; and bleached and unbleached market kraft pulp to manufacture printing, writing, and tissue products.

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