Veritiv (VRTV) Downgraded by ValuEngine to “Strong Sell”

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ValuEngine cut shares of Veritiv (NYSE:VRTV) from a sell rating to a strong sell rating in a research note released on Tuesday morning.

Several other analysts have also recently weighed in on VRTV. TheStreet raised shares of Veritiv from a d+ rating to a c rating in a research note on Monday, August 13th. Zacks Investment Research cut shares of Veritiv from a buy rating to a hold rating in a research note on Sunday, July 15th. Sidoti began coverage on shares of Veritiv in a research note on Wednesday, October 24th. They set a buy rating and a $44.00 price objective on the stock. Finally, SunTrust Banks upped their price objective on shares of Veritiv to $40.00 and gave the stock a hold rating in a research note on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $37.00.

NYSE:VRTV opened at $31.56 on Tuesday. Veritiv has a 12-month low of $22.25 and a 12-month high of $51.00. The company has a debt-to-equity ratio of 1.86, a current ratio of 2.32 and a quick ratio of 1.53. The stock has a market capitalization of $503.91 million, a P/E ratio of 14.01 and a beta of 0.67.

Veritiv (NYSE:VRTV) last issued its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.21). The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.18 billion. Veritiv had a positive return on equity of 6.77% and a negative net margin of 0.15%. Veritiv’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.91) earnings per share. Equities analysts predict 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 company’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $41.40, for a total transaction of $62,100,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.80% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRTV. Northern Trust Corp grew its stake in shares of Veritiv by 1.5% during the first quarter. Northern Trust Corp now owns 139,492 shares of the basic materials company’s stock valued at $5,469,000 after purchasing an additional 1,997 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Veritiv by 2.4% in the first quarter. Principal Financial Group Inc. now owns 85,374 shares of the basic materials company’s stock valued at $3,347,000 after acquiring an additional 2,026 shares during the last quarter. Millennium Management LLC bought a new position in Veritiv in the first quarter valued at approximately $1,058,000. Acadian Asset Management LLC bought a new position in Veritiv in the second quarter valued at approximately $1,805,000. Finally, Alps Advisors Inc. bought a new position in Veritiv in the second quarter valued at approximately $236,000. 95.12% of the stock is currently owned by institutional investors and hedge funds.

About Veritiv

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Veritiv (NYSE:VRTV)

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