Veritiv Corporation (NYSE:VRTV) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.

Several other equities analysts also recently weighed in on the company. Zacks Investment Research raised Veritiv Corporation from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Bank of America Corporation downgraded Veritiv Corporation from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $64.00 to $36.00 in a research note on Thursday, August 3rd. SunTrust Banks, Inc. raised Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Thursday, August 3rd. They noted that the move was a valuation call. Barclays PLC dropped their price objective on Veritiv Corporation from $35.00 to $25.00 and set an “underweight” rating for the company in a research note on Monday, August 7th. Finally, TheStreet downgraded Veritiv Corporation from a “c-” rating to a “d+” rating in a research note on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $39.20.

Shares of Veritiv Corporation (VRTV) opened at 32.10 on Wednesday. The stock’s market capitalization is $503.97 million. The company’s 50 day moving average price is $30.74 and its 200 day moving average price is $39.61. Veritiv Corporation has a 12 month low of $26.85 and a 12 month high of $62.60.

Veritiv Corporation (NYSE:VRTV) last posted its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.56 by $0.32. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Veritiv Corporation had a positive return on equity of 5.43% and a negative net margin of 0.02%. Veritiv Corporation’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts anticipate that Veritiv Corporation will post $1.48 earnings per share for the current fiscal year.

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In related news, Chairman Mary A. Laschinger purchased 3,300 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was bought at an average price of $30.22 per share, with a total value of $99,726.00. Following the completion of the transaction, the chairman now owns 63,993 shares of the company’s stock, valued at approximately $1,933,868.46. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC purchased a new position in Veritiv Corporation during the second quarter worth $55,381,000. Janus Capital Management LLC increased its position in Veritiv Corporation by 18.4% during the first quarter. Janus Capital Management LLC now owns 876,895 shares of the basic materials company’s stock worth $45,423,000 after buying an additional 136,536 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Veritiv Corporation by 31.7% during the second quarter. Dimensional Fund Advisors LP now owns 628,782 shares of the basic materials company’s stock worth $28,295,000 after buying an additional 151,207 shares in the last quarter. Vanguard Group Inc. increased its position in Veritiv Corporation by 1.1% during the second quarter. Vanguard Group Inc. now owns 589,334 shares of the basic materials company’s stock worth $26,521,000 after buying an additional 6,346 shares in the last quarter. Finally, State Street Corp increased its position in Veritiv Corporation by 15.2% during the second quarter. State Street Corp now owns 248,552 shares of the basic materials company’s stock worth $11,193,000 after buying an additional 32,835 shares in the last quarter. 93.10% of the stock is owned by institutional investors.

Veritiv Corporation Company Profile

Veritiv Corporation is a business-to-business distributor of print, publishing, packaging and facility solutions. The Company also provides logistics and supply chain management solutions to its customers. The Company’s segments are Print, Publishing & Print Management (Publishing), Packaging, Facility Solutions, and Corporate & Other.

Analyst Recommendations for Veritiv Corporation (NYSE:VRTV)

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