Veritiv (VRTV) Downgraded by ValuEngine

Veritiv (NYSE:VRTV) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Wednesday.

Several other research analysts also recently weighed in on VRTV. Zacks Investment Research downgraded shares of Veritiv from a “hold” rating to a “strong sell” rating in a report on Saturday, November 17th. TheStreet raised shares of Veritiv from a “d+” rating to a “c” rating in a report on Monday, August 13th. SunTrust Banks upped their target price on shares of Veritiv to $40.00 and gave the stock a “hold” rating in a report on Friday, August 10th. Finally, Sidoti assumed coverage on shares of Veritiv in a report on Wednesday, October 24th. They issued a “buy” rating and a $44.00 target price for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Veritiv presently has a consensus rating of “Hold” and an average price target of $40.40.

Shares of Veritiv stock opened at $28.29 on Wednesday. The firm has a market capitalization of $459.23 million, a P/E ratio of -33.01 and a beta of 0.64. The company has a quick ratio of 1.53, a current ratio of 2.32 and a debt-to-equity ratio of 1.86. Veritiv has a fifty-two week low of $22.28 and a fifty-two week high of $51.00.

Veritiv (NYSE:VRTV) last issued its earnings results on Tuesday, November 6th. The basic materials company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.21). The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.18 billion. Veritiv had a positive return on equity of 6.77% and a negative net margin of 0.15%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.91) EPS. On average, sell-side analysts forecast that Veritiv will post 2.97 EPS for the current year.

In related news, Chairman Mary A. Laschinger acquired 3,350 shares of the company’s stock in a transaction on Monday, November 19th. The stock was acquired at an average price of $29.79 per share, with a total value of $99,796.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bain Capital Investors Llc sold 1,500,000 shares of the stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $41.40, for a total transaction of $62,100,000.00. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Veritiv by 36.0% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 3,995 shares of the basic materials company’s stock valued at $159,000 after purchasing an additional 1,058 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Veritiv in the 3rd quarter valued at about $279,000. Paloma Partners Management Co bought a new position in shares of Veritiv in the 2nd quarter valued at about $336,000. Dimensional Fund Advisors LP lifted its holdings in shares of Veritiv by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 980,402 shares of the basic materials company’s stock valued at $39,069,000 after acquiring an additional 108,645 shares during the last quarter. Finally, Strs Ohio lifted its holdings in shares of Veritiv by 10.1% in the 2nd quarter. Strs Ohio now owns 19,700 shares of the basic materials company’s stock valued at $785,000 after acquiring an additional 1,800 shares during the last quarter. 93.12% of the stock is owned by institutional investors and hedge funds.

Veritiv Company Profile

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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