ValuEngine lowered shares of Veritiv (NYSE:VRTV) from a buy rating to a hold rating in a research report sent to investors on Saturday.

A number of other equities research analysts also recently issued reports on VRTV. Zacks Investment Research raised Veritiv from a hold rating to a buy rating and set a $44.00 price target on the stock in a research report on Saturday, June 30th. TheStreet raised Veritiv from a d+ rating to a c rating in a research report on Monday, August 13th. Finally, SunTrust Banks increased their price target on Veritiv to $40.00 and gave the stock a hold rating in a research report on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has an average rating of Hold and an average price target of $35.60.

Shares of NYSE:VRTV opened at $37.35 on Friday. The company has a market cap of $630.68 million, a P/E ratio of -43.94 and a beta of 0.55. Veritiv has a 1 year low of $20.35 and a 1 year high of $51.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.53 and a current ratio of 2.32.

Veritiv (NYSE:VRTV) last issued its quarterly earnings results on Thursday, August 9th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.67). The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. Veritiv had a positive return on equity of 7.33% and a negative net margin of 0.33%. analysts anticipate that Veritiv will post 3.54 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of Veritiv by 9.4% in the 2nd quarter. BlackRock Inc. now owns 1,624,431 shares of the basic materials company’s stock valued at $64,733,000 after purchasing an additional 139,821 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Veritiv by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 980,402 shares of the basic materials company’s stock valued at $39,069,000 after purchasing an additional 108,645 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Veritiv by 40.8% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 467,375 shares of the basic materials company’s stock valued at $18,625,000 after purchasing an additional 135,500 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Veritiv by 21.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 246,792 shares of the basic materials company’s stock valued at $9,835,000 after purchasing an additional 43,239 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its holdings in shares of Veritiv by 11.0% in the 2nd quarter. OppenheimerFunds Inc. now owns 147,601 shares of the basic materials company’s stock valued at $5,882,000 after purchasing an additional 14,571 shares in the last quarter. 95.22% of the stock is currently owned by hedge funds and other institutional investors.

Veritiv Company Profile

Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard and custom packaging solutions.

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