Veritiv Corp (NYSE:VRTV) rose 5% during trading on Friday . The company traded as high as $20.22 and last traded at $20.20, approximately 127,118 shares traded hands during trading. An increase of 29% from the average daily volume of 98,587 shares. The stock had previously closed at $19.23.
VRTV has been the subject of several recent analyst reports. ValuEngine raised shares of Veritiv from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research lowered shares of Veritiv from a “hold” rating to a “sell” rating in a research note on Saturday. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Veritiv presently has a consensus rating of “Hold” and a consensus price target of $28.00.
The company has a 50 day simple moving average of $16.67 and a 200-day simple moving average of $17.31. The stock has a market cap of $309.60 million, a price-to-earnings ratio of 8.52 and a beta of 1.56. The company has a quick ratio of 1.32, a current ratio of 2.00 and a debt-to-equity ratio of 1.38.
Several hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can lifted its stake in Veritiv by 80.3% during the second quarter. Bank of Montreal Can now owns 2,400 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 1,069 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in Veritiv by 39.7% in the second quarter. Commonwealth Bank of Australia now owns 8,800 shares of the basic materials company’s stock worth $170,000 after purchasing an additional 2,500 shares during the period. State of Alaska Department of Revenue boosted its holdings in Veritiv by 123.4% in the third quarter. State of Alaska Department of Revenue now owns 9,775 shares of the basic materials company’s stock worth $176,000 after purchasing an additional 5,400 shares during the period. Citadel Advisors LLC bought a new stake in Veritiv during the second quarter valued at $209,000. Finally, Alberta Investment Management Corp bought a new stake in Veritiv during the third quarter valued at $212,000. 96.41% of the stock is currently owned by institutional investors and hedge funds.
Veritiv Company Profile (NYSE:VRTV)
Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard, custom, and comprehensive packaging solutions.
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