Verso (NYSE:VRS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.
According to Zacks, “Verso Corporation is engaged in the paper industry. The Company produces coated freesheet, coated ground wood and uncoated super calendered papers and pulp. It serves to magazine and catalog publishers, commercial printers, specialty retail merchandisers and paper merchants. The company operates primarily in Kentucky, Maine, Maryland, Michigan, Minnesota and Wisconsin. Verso Corporation is based in Memphis, United States. “
A number of other research analysts also recently issued reports on VRS. BWS Financial lifted their price target on shares of Verso to $30.00 and gave the stock a “buy” rating in a research note on Friday, March 9th. B. Riley set a $24.00 price target on shares of Verso and gave the stock a “buy” rating in a research note on Friday, March 9th. Finally, ValuEngine upgraded shares of Verso from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd.
Verso (NYSE:VRS) last posted its quarterly earnings data on Thursday, March 8th. The basic materials company reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.27. Verso had a negative net margin of 1.22% and a negative return on equity of 4.83%. The business had revenue of $639.00 million during the quarter, compared to analyst estimates of $639.95 million. equities research analysts anticipate that Verso will post 2.51 earnings per share for the current year.
In related news, major shareholder Mudrick Capital Management, L. sold 60,000 shares of Verso stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $17.15, for a total value of $1,029,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 607,573 shares of company stock valued at $10,520,392 in the last quarter. 4.20% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC lifted its stake in Verso by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 71,734 shares of the basic materials company’s stock worth $1,260,000 after acquiring an additional 4,165 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Verso by 20.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 26,092 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 4,493 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Verso by 15.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 67,591 shares of the basic materials company’s stock worth $1,188,000 after purchasing an additional 9,091 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in Verso during the fourth quarter worth approximately $171,000. Finally, Stone Ridge Asset Management LLC acquired a new stake in Verso during the fourth quarter worth approximately $242,000. Institutional investors own 82.22% of the company’s stock.
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Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated freesheet and coated groundwood, specialty, inkjet and digital, supercalendered, and uncoated freesheet papers; and northern bleached hardwood Kraft pulp to manufacture printing, writing, and specialty paper grades, as well as to manufacture tissue products.
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