Zacks Investment Research cut shares of Veritiv Corp. (NYSE:VRTV) from a hold rating to a strong sell rating in a research 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 on the stock. in a report on Tuesday.

Veritiv Corp. (NYSE:VRTV) opened at 53.55 on Friday. The company’s 50-day moving average is $52.41 and its 200 day moving average is $45.19. Veritiv Corp. has a 1-year low of $27.44 and a 1-year high of $56.70. The stock has a market capitalization of $856.80 million, a PE ratio of 32.10 and a beta of 1.42.

Veritiv Corp. (NYSE:VRTV) last released its earnings results on Wednesday, November 9th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $1.21 by $0.87. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Veritiv Corp. had a return on equity of 7.15% and a net margin of 0.32%. Veritiv Corp.’s revenue was down 4.2% on a year-over-year basis. Equities analysts predict that Veritiv Corp. will post $2.77 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in VRTV. Prudential Financial Inc. increased its stake in Veritiv Corp. by 8.5% in the first quarter. Prudential Financial Inc. now owns 52,211 shares of the company’s stock valued at $1,945,000 after buying an additional 4,108 shares during the period. AJO LP purchased a new position in Veritiv Corp. during the second quarter valued at about $433,000. Monarch Partners Asset Management LLC purchased a new position in Veritiv Corp. during the second quarter valued at about $220,000. BlackRock Fund Advisors boosted its position in Veritiv Corp. by 0.6% in the first quarter. BlackRock Fund Advisors now owns 510,216 shares of the company’s stock valued at $19,011,000 after buying an additional 2,809 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Veritiv Corp. by 6.6% in the second quarter. JPMorgan Chase & Co. now owns 52,090 shares of the company’s stock valued at $1,958,000 after buying an additional 3,234 shares in the last quarter. 97.80% of the stock is currently 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.

5 Day Chart for NYSE:VRTV

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