Veritiv Corp (NYSE:VRTV) Receives Consensus Recommendation of “Hold” from Analysts

Veritiv Corp (NYSE:VRTV) has received an average recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $33.33.

A number of research firms recently weighed in on VRTV. Zacks Investment Research upgraded SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Friday, July 5th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Bank of America upgraded Copa from a “neutral” rating to a “buy” rating in a report on Monday, May 13th.

NYSE VRTV traded down $0.30 on Thursday, reaching $17.44. The company had a trading volume of 2,303 shares, compared to its average volume of 86,714. The firm has a market cap of $294.98 million, a price-to-earnings ratio of 7.37 and a beta of 1.46. Veritiv has a fifty-two week low of $17.23 and a fifty-two week high of $51.00. The business has a 50 day moving average price of $18.81. The company has a current ratio of 2.25, a quick ratio of 1.46 and a debt-to-equity ratio of 1.80.

Veritiv (NYSE:VRTV) last posted its quarterly earnings data on Thursday, May 9th. The basic materials company reported ($1.68) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($2.11). The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $2.11 billion. Veritiv had a negative net margin of 0.31% and a positive return on equity of 0.48%. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 earnings per share.

In other Veritiv news, VP John G. Biscanti sold 2,500 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $19.09, for a total transaction of $47,725.00. Following the completion of the sale, the vice president now directly owns 6,173 shares in the company, valued at approximately $117,842.57. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. purchased a new stake in Veritiv in the 1st quarter valued at about $52,000. BNP Paribas Arbitrage SA increased its stake in Veritiv by 88.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,679 shares of the basic materials company’s stock valued at $71,000 after buying an additional 1,260 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in Veritiv in the 4th quarter valued at about $90,000. Macquarie Group Ltd. increased its stake in Veritiv by 63.6% in the 4th quarter. Macquarie Group Ltd. now owns 3,600 shares of the basic materials company’s stock valued at $90,000 after buying an additional 1,400 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in Veritiv by 347.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,995 shares of the basic materials company’s stock valued at $100,000 after buying an additional 3,102 shares during the last quarter. Hedge funds and other institutional investors own 91.63% 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, 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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