Veritiv (VRTV) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Veritiv (NYSE:VRTV) from a sell rating to a hold rating in a research report released on Tuesday, December 5th.

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. “

VRTV has been the subject of several other reports. Bank of America cut their price objective on shares of Veritiv from $36.00 to $29.00 and set a neutral rating for the company in a research report on Wednesday, November 8th. Barclays dropped their price target on shares of Veritiv from $35.00 to $25.00 and set an underweight rating for the company in a research report on Monday, August 7th. Wells Fargo & Co cut shares of Veritiv from an outperform rating to a market perform rating in a research report on Wednesday, November 8th. BidaskClub cut shares of Veritiv from a hold rating to a sell rating in a report on Wednesday, October 11th. Finally, TheStreet cut shares of Veritiv from a c- rating to a d+ rating in a report on Monday, August 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Veritiv currently has a consensus rating of Hold and a consensus price target of $33.00.

Veritiv (NYSE:VRTV) traded down $0.40 during trading hours on Tuesday, hitting $28.90. 74,787 shares of the stock traded hands, compared to its average volume of 93,920. The company has a current ratio of 2.36, a quick ratio of 1.51 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $460.02, a P/E ratio of 11.06 and a beta of 1.10. Veritiv has a 12-month low of $20.35 and a 12-month high of $62.60.

In other Veritiv news, Director Charles Ward acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were acquired at an average cost of $23.63 per share, for a total transaction of $472,600.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $472,600. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tracy A. Leinbach acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was acquired at an average price of $23.69 per share, for a total transaction of $118,450.00. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Thrivent Financial For Lutherans lifted its holdings in Veritiv by 3.9% in the 2nd quarter. Thrivent Financial For Lutherans now owns 6,860 shares of the basic materials company’s stock valued at $309,000 after purchasing an additional 260 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Veritiv by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,295 shares of the basic materials company’s stock valued at $103,000 after purchasing an additional 344 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Veritiv by 0.9% in the 2nd quarter. Nordea Investment Management AB now owns 46,000 shares of the basic materials company’s stock valued at $2,070,000 after purchasing an additional 400 shares in the last quarter. Capstone Asset Management Co. lifted its holdings in Veritiv by 8.6% in the 2nd quarter. Capstone Asset Management Co. now owns 7,236 shares of the basic materials company’s stock valued at $326,000 after purchasing an additional 570 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Veritiv by 14.1% in the 1st quarter. Alliancebernstein L.P. now owns 4,834 shares of the basic materials company’s stock valued at $250,000 after purchasing an additional 598 shares in the last quarter. Institutional investors own 89.98% of the company’s stock.

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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.

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