Veritiv Corporation (NYSE:VRTV) had its price objective cut by research analysts at Barclays PLC from $25.00 to $20.00 in a report released on Friday. The firm presently has an “underweight” rating on the basic materials company’s stock. Barclays PLC’s price target suggests a potential downside of 15.43% from the company’s previous close.

A number of other research analysts have also issued reports on VRTV. BidaskClub lowered shares of Veritiv Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. SunTrust Banks, Inc. upgraded shares of Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Thursday, August 3rd. They noted that the move was a valuation call. Bank of America Corporation lowered shares of Veritiv Corporation from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $64.00 to $36.00 in a research note on Thursday, August 3rd. William Blair lowered shares of Veritiv Corporation from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Veritiv Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Veritiv Corporation currently has a consensus rating of “Hold” and an average target price of $33.00.

Veritiv Corporation (NYSE:VRTV) opened at $23.65 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.55 and a current ratio of 2.36. Veritiv Corporation has a 52 week low of $20.35 and a 52 week high of $62.60. The stock has a market cap of $369.74, a P/E ratio of 8.89, a price-to-earnings-growth ratio of 0.57 and a beta of 1.22.

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In other Veritiv Corporation news, Chairman Mary A. Laschinger purchased 3,300 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were purchased at an average cost of $30.22 per share, with a total value of $99,726.00. Following the completion of the purchase, the chairman now owns 63,993 shares in the company, valued at approximately $1,933,868.46. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles Ward purchased 20,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was acquired at an average cost of $23.63 per share, for a total transaction of $472,600.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $472,600. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company’s stock.

Hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue raised its stake in Veritiv Corporation by 78.0% during the second quarter. State of Alaska Department of Revenue now owns 2,260 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 990 shares during the period. Victory Capital Management Inc. raised its stake in Veritiv Corporation by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,295 shares of the basic materials company’s stock worth $103,000 after purchasing an additional 344 shares during the period. SG Americas Securities LLC purchased a new position in Veritiv Corporation during the second quarter worth about $124,000. BNP Paribas Arbitrage SA raised its stake in Veritiv Corporation by 49.8% during the second quarter. BNP Paribas Arbitrage SA now owns 4,420 shares of the basic materials company’s stock worth $199,000 after purchasing an additional 1,469 shares during the period. Finally, Nine Chapters Capital Management LLC purchased a new position in Veritiv Corporation during the third quarter worth about $228,000. 92.57% of the stock is currently owned by institutional investors.

Veritiv Corporation 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.

Analyst Recommendations for Veritiv Corporation (NYSE:VRTV)

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