Somewhat Positive News Coverage Somewhat Unlikely to Affect Veritiv Corporation (VRTV) Stock Price
Press coverage about Veritiv Corporation (NYSE:VRTV) has trended somewhat positive on Wednesday, Accern Sentiment reports. The research group identifies negative and positive press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Veritiv Corporation earned a news sentiment score of 0.16 on Accern’s scale. Accern also assigned media headlines about the basic materials company an impact score of 45.6965582731583 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the media headlines that may have effected Accern Sentiment Analysis’s analysis:
- Veritiv Named A Nestlé North America Procurement Supplier of the Year (finance.yahoo.com)
- Is Veritiv Corporation (VRTV) a Great Stock for Value Investors? (finance.yahoo.com)
- Veritiv Corporation (VRTV) Receives Consensus Recommendation of “Hold” from Brokerages (americanbankingnews.com)
- 13G Filing: Baupost Group and Veritiv Corp (VRTV) (insidermonkey.com)
Veritiv Corporation (NYSE VRTV) traded down 0.31% during trading on Wednesday, reaching $32.25. 43,091 shares of the company’s stock traded hands. The firm’s 50 day moving average is $30.97 and its 200-day moving average is $39.30. The company’s market capitalization is $506.33 million. Veritiv Corporation has a 12 month low of $26.85 and a 12 month high of $62.60.
Veritiv Corporation (NYSE:VRTV) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.32. Veritiv Corporation had a positive return on equity of 5.43% and a negative net margin of 0.02%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Analysts expect that Veritiv Corporation will post $1.48 EPS for the current fiscal year.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Veritiv Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub cut shares of Veritiv Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Barclays PLC dropped their price objective on shares of Veritiv Corporation from $35.00 to $25.00 and set an “underweight” rating on the stock in a report on Monday, August 7th. William Blair cut shares of Veritiv Corporation from an “outperform” rating to a “market perform” rating in a report on Thursday, August 3rd. Finally, SunTrust Banks, Inc. raised shares of Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Thursday, August 3rd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $39.20.
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In other news, Chairman Mary A. Laschinger acquired 3,300 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was purchased at an average cost of $30.22 per share, with a total value of $99,726.00. Following the acquisition, 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.
About Veritiv Corporation
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.
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