Veritiv Corp (VRTV) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Veritiv Corp (NYSE:VRTV) from a hold rating to a buy rating in a research report report published on Friday. Zacks Investment Research currently has $70.00 target price on the stock.
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. “
Other research analysts also recently issued research reports about the stock. Bank of America Corp started coverage on shares of Veritiv Corp in a report on Wednesday, January 11th. They issued a buy rating on the stock. Wells Fargo & Co started coverage on shares of Veritiv Corp in a report on Wednesday, March 15th. They issued a market perform rating on the stock.
Shares of Veritiv Corp (NYSE:VRTV) traded up 1.43% during trading on Friday, reaching $53.15. 124,101 shares of the company’s stock were exchanged. The company has a market capitalization of $834.40 million, a PE ratio of 40.88 and a beta of 1.28. Veritiv Corp has a 52-week low of $34.10 and a 52-week high of $62.60. The company has a 50 day moving average price of $55.75 and a 200-day moving average price of $52.98.
Veritiv Corp (NYSE:VRTV) last announced its earnings results on Tuesday, March 14th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.90 by $0.64. The firm earned $2.12 billion during the quarter, compared to the consensus estimate of $2.12 billion. Veritiv Corp had a return on equity of 7.15% and a net margin of 0.32%. The company’s revenue was down 3.7% on a year-over-year basis. On average, equities analysts forecast that Veritiv Corp will post $3.13 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in VRTV. Arizona State Retirement System purchased a new position in shares of Veritiv Corp during the third quarter valued at approximately $212,000. OMERS ADMINISTRATION Corp bought a new position in Veritiv Corp during the third quarter valued at about $222,000. Aperio Group LLC bought a new position in Veritiv Corp during the third quarter valued at about $237,000. DIAM Co. Ltd. bought a new position in Veritiv Corp during the third quarter valued at about $243,000. Finally, Thrivent Financial for Lutherans increased its position in Veritiv Corp by 22.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,050 shares of the company’s stock valued at $271,000 after buying an additional 910 shares during the last quarter. Hedge funds and other institutional investors own 95.69% of the company’s stock.
About Veritiv Corp
Veritiv Corporation (Veritiv) is a business-to-business distributor of print, publishing, packaging, facility and logistics solutions. Veritiv operates through four segments: Print, Publishing, Packaging and Facility Solutions. The Print segment sells and distributes commercial printing, writing, copying, digital, wide format and specialty paper products, graphics consumables and graphics equipment.
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