Veritiv (VRTV) Downgraded by ValuEngine

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

A number of other equities research analysts have also recently commented on the stock. Sidoti started coverage on shares of Veritiv in a research note on Wednesday, October 24th. They set a buy rating and a $44.00 target price on the stock. Zacks Investment Research cut shares of Veritiv from a buy rating to a hold rating in a research note on Wednesday, August 15th. SunTrust Banks raised their target price on shares of Veritiv to $40.00 and gave the stock a hold rating in a research note on Friday, August 10th. Finally, TheStreet upgraded shares of Veritiv from a d+ rating to a c rating in a research note on Monday, August 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $40.40.

Shares of NYSE:VRTV opened at $27.79 on Wednesday. Veritiv has a twelve month low of $22.28 and a twelve month high of $51.00. The company has a current ratio of 2.32, a quick ratio of 1.53 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $459.23 million, a PE ratio of -32.69 and a beta of 0.64.

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). Veritiv had a positive return on equity of 6.77% and a negative net margin of 0.15%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the company earned ($0.91) EPS. Veritiv’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, analysts expect that Veritiv will post 2.97 EPS for the current fiscal year.

In other news, Chairman Mary A. Laschinger bought 3,350 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were bought at an average price of $29.79 per share, for a total transaction of $99,796.50. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Bain Capital Investors Llc sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $41.40, for a total transaction of $62,100,000.00. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Veritiv by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 710,919 shares of the basic materials company’s stock worth $25,878,000 after acquiring an additional 72,027 shares during the period. Morgan Stanley raised its position in shares of Veritiv by 42.0% during the third quarter. Morgan Stanley now owns 45,555 shares of the basic materials company’s stock valued at $1,659,000 after buying an additional 13,482 shares during the last quarter. Key Square Capital Management LLC bought a new stake in shares of Veritiv during the third quarter valued at approximately $7,276,000. Alpine Global Management LLC bought a new stake in shares of Veritiv during the third quarter valued at approximately $486,000. Finally, IndexIQ Advisors LLC raised its position in shares of Veritiv by 3.9% during the third quarter. IndexIQ Advisors LLC now owns 57,991 shares of the basic materials company’s stock valued at $2,111,000 after buying an additional 2,189 shares during the last quarter. Institutional investors own 93.12% of the company’s stock.

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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