Veritiv Corp. (VRTV) Downgraded by Zacks Investment Research to Strong Sell
Veritiv Corp. (NYSE:VRTV) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Saturday.
According to Zacks, “Veritiv Corporation engages in offering North American business-to-business distribution solutions. It provides packaging, print and print management, publishing, supply chain, facility and logistics solutions that span the entire lifecycle of core business operations. The company’s customers vary across a number of industries, including manufacturing, healthcare, retail and more. Veritiv Corporation is headquartered in Atlanta, Georgia. “
Separately, Vertical Research downgraded shares of Veritiv Corp. from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research report on Tuesday.
Shares of Veritiv Corp. (NYSE:VRTV) opened at 53.55 on Friday. The firm has a market capitalization of $856.80 million, a P/E ratio of 32.10 and a beta of 1.42. Veritiv Corp. has a 52-week low of $27.44 and a 52-week high of $56.70. The stock has a 50 day moving average of $52.41 and a 200-day moving average of $45.19.
Veritiv Corp. (NYSE:VRTV) last posted its earnings results on Wednesday, November 9th. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.21 by $0.87. Veritiv Corp. had a return on equity of 7.15% and a net margin of 0.32%. The business earned $2.13 billion during the quarter, compared to analyst estimates of $2.12 billion. The business’s revenue was down 4.2% on a year-over-year basis. Equities analysts expect that Veritiv Corp. will post $2.77 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Veritiv Corp. by 4.1% in the third quarter. BlackRock Inc. now owns 2,362 shares of the company’s stock worth $118,000 after buying an additional 92 shares during the last quarter. BlackRock Advisors LLC increased its position in Veritiv Corp. by 3.3% in the second quarter. BlackRock Advisors LLC now owns 3,872 shares of the company’s stock worth $146,000 after buying an additional 122 shares in the last quarter. New York State Common Retirement Fund increased its position in Veritiv Corp. by 1.3% in the third quarter. New York State Common Retirement Fund now owns 13,731 shares of the company’s stock worth $689,000 after buying an additional 181 shares in the last quarter. California State Teachers Retirement System increased its position in Veritiv Corp. by 1.2% in the third quarter. California State Teachers Retirement System now owns 17,475 shares of the company’s stock worth $877,000 after buying an additional 200 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Veritiv Corp. by 5.9% in the third quarter. Rhumbline Advisers now owns 12,894 shares of the company’s stock worth $647,000 after buying an additional 724 shares in the last quarter. 97.80% of the stock is owned by institutional investors and hedge funds.
About Veritiv Corp.
Veritiv Corporation (Veritiv) is a business-to-business distributor of print, publishing, packaging, facility and logistics solutions. Veritiv operates through four segments: Print, Publishing, Packaging and Facility Solutions. The Print segment sells and distributes commercial printing, writing, copying, digital, wide format and specialty paper products, graphics consumables and graphics equipment.
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