ValuEngine cut shares of Veritiv (NYSE:VRTV) from a hold rating to a sell rating in a research note issued to investors on Friday.
Several other brokerages have also issued reports on VRTV. TheStreet upgraded shares of Veritiv from a d+ rating to a c rating in a research report on Monday, August 13th. SunTrust Banks boosted their price target on shares of Veritiv to $40.00 and gave the stock a hold rating in a research note on Friday, August 10th. Finally, Zacks Investment Research raised shares of Veritiv from a hold rating to a buy rating and set a $44.00 price target for the company in a research note on Saturday, June 30th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has an average rating of Hold and an average target price of $35.60.
NYSE:VRTV traded down $1.28 during midday trading on Friday, hitting $31.54. The company had a trading volume of 135,677 shares, compared to its average volume of 91,516. Veritiv has a 52-week low of $20.35 and a 52-week high of $51.00. The firm has a market capitalization of $576.80 million, a PE ratio of -37.11 and a beta of 0.60. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.53 and a current ratio of 2.32.
In other Veritiv news, major shareholder Bain Capital Investors Llc sold 1,500,000 shares of the business’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $41.40, for a total value of $62,100,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.80% of the company’s stock.
Large investors have recently modified their holdings of the company. Piedmont Investment Advisors LLC bought a new position in shares of Veritiv during the second quarter valued at about $105,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Veritiv by 36.0% during the second quarter. Metropolitan Life Insurance Co. NY now owns 3,995 shares of the basic materials company’s stock valued at $159,000 after acquiring an additional 1,058 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Veritiv during the first quarter valued at about $234,000. Alps Advisors Inc. bought a new position in shares of Veritiv during the second quarter valued at about $236,000. Finally, Paloma Partners Management Co bought a new position in shares of Veritiv during the second quarter valued at about $336,000. 95.22% of the stock is owned by hedge funds and other institutional investors.
Veritiv Company Profile
Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard and custom packaging solutions.
Featured Article: Market Capitalization in the Stock Market
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Veritiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritiv and related companies with MarketBeat.com's FREE daily email newsletter.