ValuEngine Lowers Veritiv (VRTV) to Sell

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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.

Veritiv (NYSE:VRTV) last announced its earnings results on Thursday, August 9th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.67). Veritiv had a positive return on equity of 7.33% and a negative net margin of 0.33%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.07 billion. On average, sell-side analysts forecast that Veritiv will post 3.54 EPS for the current fiscal year.

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.

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