Veritiv (NYSE:VRTV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Veritiv Corporation engages in offering North American business-to-business distribution solutions. It provides packaging, print and print management, publishing, supply chain, facility and logistics solutions that span the entire lifecycle of core business operations. The company’s customers vary across a number of industries, including manufacturing, healthcare, retail and more. Veritiv Corporation is headquartered in Atlanta, Georgia. “
Several other equities analysts also recently issued reports on VRTV. Bank of America upgraded Veritiv from a “neutral” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Tuesday, November 21st. Barclays cut their price objective on Veritiv from $25.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, November 10th. Wells Fargo & Company downgraded Veritiv from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 8th. BidaskClub downgraded Veritiv from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, TheStreet downgraded 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’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.00.
In other news, Chairman Mary A. Laschinger bought 3,300 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was bought at an average price of $30.22 per share, for a total transaction of $99,726.00. Following the completion of the transaction, the chairman now directly owns 63,993 shares in the company, valued at approximately $1,933,868.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Ward bought 20,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were purchased at an average price of $23.63 per share, with a total value of $472,600.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $472,600. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 28,300 shares of company stock valued at $690,776. Corporate insiders own 0.25% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in VRTV. Janus Henderson Group PLC bought a new stake in shares of Veritiv during the second quarter worth $55,381,000. Dimensional Fund Advisors LP raised its position in shares of Veritiv by 31.7% during the second quarter. Dimensional Fund Advisors LP now owns 628,782 shares of the basic materials company’s stock worth $28,295,000 after acquiring an additional 151,207 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Veritiv by 28.1% during the first quarter. Vanguard Group Inc. now owns 582,988 shares of the basic materials company’s stock worth $30,199,000 after acquiring an additional 127,926 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Veritiv by 126.5% during the second quarter. JPMorgan Chase & Co. now owns 154,575 shares of the basic materials company’s stock worth $6,956,000 after purchasing an additional 86,335 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of Veritiv by 293.4% during the second quarter. Prudential Financial Inc. now owns 93,909 shares of the basic materials company’s stock worth $4,226,000 after purchasing an additional 70,039 shares during the period. Institutional investors own 90.02% of the company’s stock.
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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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