Media coverage about Veritiv Corporation (NYSE:VRTV) has trended somewhat positive on Monday, Accern reports. Accern rates the sentiment of media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Veritiv Corporation earned a coverage optimism score of 0.16 on Accern’s scale. Accern also assigned headlines about the basic materials company an impact score of 46.4484522436139 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Several research analysts have recently weighed in on VRTV shares. Zacks Investment Research raised Veritiv Corporation from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub downgraded Veritiv Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. SunTrust Banks, Inc. raised Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Thursday, August 3rd. They noted that the move was a valuation call. Bank of America Corporation downgraded Veritiv Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $64.00 to $36.00 in a research note on Thursday, August 3rd. Finally, William Blair downgraded Veritiv Corporation from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Veritiv Corporation presently has a consensus rating of “Hold” and a consensus target price of $39.20.
Shares of Veritiv Corporation (NYSE:VRTV) traded up 0.16% during mid-day trading on Monday, hitting $31.70. The company had a trading volume of 56,827 shares. Veritiv Corporation has a 12 month low of $26.85 and a 12 month high of $62.60. The firm has a 50-day moving average price of $32.00 and a 200 day moving average price of $37.81. The firm’s market capitalization is $497.69 million.
Veritiv Corporation (NYSE:VRTV) last issued its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.32. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Veritiv Corporation had a positive return on equity of 5.43% and a negative net margin of 0.02%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities research analysts forecast that Veritiv Corporation will post $1.48 earnings per share for the current fiscal year.
In other news, Chairman Mary A. Laschinger acquired 3,300 shares of Veritiv Corporation stock in a transaction that occurred on Tuesday, September 12th. The stock was purchased at an average cost of $30.22 per share, with a total value of $99,726.00. Following the completion of the acquisition, the chairman now owns 63,993 shares in the company, valued at approximately $1,933,868.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.
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About Veritiv Corporation
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.
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