ValuEngine Lowers Veritiv (VRTV) to Hold
ValuEngine lowered shares of Veritiv (NYSE:VRTV) from a buy rating to a hold rating in a report published on Sunday.
VRTV has been the subject of a number of other research reports. BidaskClub lowered shares of Veritiv from a hold rating to a sell rating in a report on Wednesday, October 11th. Barclays lowered their price target on shares of Veritiv from $25.00 to $20.00 and set an underweight rating for the company in a report on Friday, November 10th. Bank of America lowered their price target on shares of Veritiv from $36.00 to $29.00 and set a neutral rating for the company in a report on Wednesday, November 8th. Zacks Investment Research raised shares of Veritiv from a sell rating to a hold rating in a report on Tuesday, December 5th. Finally, Wells Fargo & Co lowered shares of Veritiv from an outperform rating to a market perform rating in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Veritiv has an average rating of Hold and an average price target of $33.00.
Shares of Veritiv (NYSE VRTV) opened at $30.35 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.36 and a debt-to-equity ratio of 1.81. The firm has a market cap of $476.50, a P/E ratio of -21.99 and a beta of 1.02. Veritiv has a fifty-two week low of $20.35 and a fifty-two week high of $62.60.
A number of hedge funds have recently made changes to their positions in VRTV. Victory Capital Management Inc. boosted its stake in Veritiv by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,295 shares of the basic materials company’s stock valued at $103,000 after acquiring an additional 344 shares during the last quarter. SG Americas Securities LLC bought a new position in Veritiv in the second quarter valued at approximately $124,000. BNP Paribas Arbitrage SA boosted its stake in Veritiv by 49.8% in the second quarter. BNP Paribas Arbitrage SA now owns 4,420 shares of the basic materials company’s stock valued at $199,000 after acquiring an additional 1,469 shares during the last quarter. Nine Chapters Capital Management LLC bought a new position in Veritiv in the third quarter valued at approximately $228,000. Finally, Crossmark Global Holdings Inc. bought a new position in Veritiv in the third quarter valued at approximately $246,000. 89.98% of the stock is currently owned by hedge funds and other institutional investors.
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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