Veritiv (VRTV) Price Target Lowered to $20.00 at Barclays

Veritiv (NYSE:VRTV) had its target price decreased by Barclays from $25.00 to $20.00 in a research report sent to investors on Friday, November 10th. Barclays currently has an underweight rating on the basic materials company’s stock.

VRTV has been the topic of a number of other research reports. Zacks Investment Research lowered Veritiv from a buy rating to a hold rating in a research report on Thursday, November 9th. BidaskClub raised Veritiv from a sell rating to a hold rating in a research report on Thursday, September 28th. Bank of America lowered Veritiv from a buy rating to a neutral rating and dropped their price target for the stock from $64.00 to $36.00 in a research report on Thursday, August 3rd. William Blair lowered Veritiv from an outperform rating to a market perform rating in a research report on Wednesday, August 9th. Finally, TheStreet lowered Veritiv from a c- rating to a d+ rating in a research report on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Veritiv has a consensus rating of Hold and an average price target of $33.00.

Shares of Veritiv (NYSE:VRTV) traded up $0.75 on Friday, reaching $27.10. The company’s stock had a trading volume of 61,600 shares, compared to its average volume of 113,316. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.51 and a current ratio of 2.36. Veritiv has a 12-month low of $20.35 and a 12-month high of $62.60. The company has a market capitalization of $425.48, a PE ratio of 9.81 and a beta of 1.14.

In related news, Director Tracy A. Leinbach purchased 5,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were purchased at an average price of $23.69 per share, with a total value of $118,450.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mary A. Laschinger purchased 3,300 shares of the stock in a transaction on Tuesday, September 12th. The shares were bought at an average cost of $30.22 per share, for a total transaction of $99,726.00. Following the transaction, the chairman now directly owns 63,993 shares in the company, valued at $1,933,868.46. The disclosure for this purchase can be found here. In the last three months, insiders purchased 28,300 shares of company stock worth $690,776. 0.25% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its position in shares of Veritiv by 1,246.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,831 shares of the basic materials company’s stock worth $385,000 after purchasing an additional 10,952 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Veritiv by 34.1% during the 3rd quarter. California Public Employees Retirement System now owns 66,503 shares of the basic materials company’s stock worth $2,161,000 after purchasing an additional 16,900 shares during the last quarter. Baupost Group LLC MA increased its position in shares of Veritiv by 0.3% during the 3rd quarter. Baupost Group LLC MA now owns 3,053,724 shares of the basic materials company’s stock worth $99,246,000 after purchasing an additional 9,339 shares during the last quarter. KBC Group NV increased its position in shares of Veritiv by 70.6% during the 3rd quarter. KBC Group NV now owns 13,699 shares of the basic materials company’s stock worth $445,000 after purchasing an additional 5,668 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Veritiv by 10.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 696,156 shares of the basic materials company’s stock worth $22,626,000 after purchasing an additional 67,374 shares during the last quarter. 90.10% of the stock is currently owned by hedge funds and other institutional investors.

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Veritiv Company Profile

Veritiv Corporation is a business-to-business distributor of print, publishing, packaging and facility solutions. The Company also provides logistics and supply chain management solutions to its customers. The Company’s segments are Print, Publishing & Print Management (Publishing), Packaging, Facility Solutions, and Corporate & Other.

Analyst Recommendations for Veritiv (NYSE:VRTV)

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