Veritiv Corp. (VRTV) Rating Lowered to Strong Sell at Zacks Investment Research
Veritiv Corp. (NYSE:VRTV) was downgraded by Zacks Investment Research 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 lowered Veritiv Corp. from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a report on Tuesday.
Veritiv Corp. (NYSE:VRTV) opened at 53.55 on Friday. The firm’s 50 day moving average price is $52.41 and its 200-day moving average price is $45.19. The stock has a market cap of $856.80 million, a price-to-earnings ratio of 32.10 and a beta of 1.42. Veritiv Corp. has a 1-year low of $27.44 and a 1-year high of $56.70.
Veritiv Corp. (NYSE:VRTV) last posted its earnings results on Wednesday, November 9th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $1.21 by $0.87. The business earned $2.13 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Veritiv Corp. had a net margin of 0.32% and a return on equity of 7.15%. Veritiv Corp.’s revenue was down 4.2% compared to the same quarter last year. On average, equities analysts anticipate that Veritiv Corp. will post $2.77 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in VRTV. BlackRock Inc. boosted its stake in 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 period. Barclays PLC boosted its stake in Veritiv Corp. by 669.6% in the second quarter. Barclays PLC now owns 3,186 shares of the company’s stock worth $119,000 after buying an additional 2,772 shares during the period. Emerald Acquisition Ltd. purchased a new stake in Veritiv Corp. during the third quarter worth approximately $122,000. Rational Advisors LLC purchased a new stake in Veritiv Corp. during the second quarter worth approximately $126,000. Finally, BlackRock Advisors LLC boosted its stake 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 during the period. Institutional investors own 97.80% of the company’s stock.
Veritiv Corp. Company Profile
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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