Veritiv Corporation (NYSE:VRTV) had its price target lowered by Barclays PLC from $25.00 to $20.00 in a research note issued to investors on Friday. The brokerage currently has an underweight rating on the basic materials company’s stock.

Several other analysts have also issued reports on the company. Zacks Investment Research lowered Veritiv Corporation from a buy rating to a hold rating in a report on Thursday, November 9th. Bank of America Corporation reduced their target price on Veritiv Corporation from $36.00 to $29.00 and set a neutral rating on the stock in a report on Wednesday, November 8th. Wells Fargo & Company downgraded Veritiv Corporation from an outperform rating to a market perform rating in a research report on Wednesday, November 8th. BidaskClub downgraded Veritiv Corporation from a hold rating to a sell rating in a research report on Wednesday, October 11th. Finally, TheStreet downgraded Veritiv Corporation from a c- rating to a d+ rating in a research report on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $33.00.

Shares of Veritiv Corporation (NYSE VRTV) opened at $23.90 on Friday. The stock has a market capitalization of $371.31, a price-to-earnings ratio of 8.92 and a beta of 1.22. Veritiv Corporation has a 1-year low of $20.35 and a 1-year high of $62.60. The company has a current ratio of 2.36, a quick ratio of 1.51 and a debt-to-equity ratio of 1.81.

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In other news, Chairman Mary A. Laschinger bought 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, for a total transaction of $99,726.00. Following the completion of the transaction, the chairman now owns 63,993 shares of the company’s stock, valued at $1,933,868.46. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles Ward bought 20,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was purchased at an average price of $23.63 per share, with a total value of $472,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $472,600. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its position in Veritiv Corporation by 71.5% in the second quarter. Russell Investments Group Ltd. now owns 45,377 shares of the basic materials company’s stock valued at $2,043,000 after purchasing an additional 18,913 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Veritiv Corporation by 18.0% in the second quarter. TIAA CREF Investment Management LLC now owns 48,603 shares of the basic materials company’s stock valued at $2,187,000 after purchasing an additional 7,407 shares during the last quarter. Morgan Stanley raised its position in Veritiv Corporation by 570.2% in the first quarter. Morgan Stanley now owns 209,167 shares of the basic materials company’s stock valued at $10,836,000 after purchasing an additional 177,956 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Veritiv Corporation by 49.0% in the second quarter. Parametric Portfolio Associates LLC now owns 56,120 shares of the basic materials company’s stock valued at $2,525,000 after purchasing an additional 18,462 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in Veritiv Corporation by 293.4% in the second quarter. Prudential Financial Inc. now owns 93,909 shares of the basic materials company’s stock valued at $4,226,000 after purchasing an additional 70,039 shares during the last quarter. Hedge funds and other institutional investors own 93.45% of the company’s stock.

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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