Veritiv Corporation (NYSE:VRTV) had its target price reduced by stock analysts at Barclays PLC from $35.00 to $25.00 in a note issued to investors on Monday. The firm currently has an “underweight” rating on the basic materials company’s stock. Barclays PLC’s target price would suggest a potential downside of 10.71% from the company’s previous close.

Several other analysts also recently weighed in on VRTV. William Blair downgraded shares of Veritiv Corporation from an “outperform” rating to a “market perform” rating in a research note on Thursday. Zacks Investment Research downgraded shares of Veritiv Corporation from a “hold” rating to a “sell” rating in a research note on Saturday. Bank of America Corporation downgraded shares of Veritiv Corporation from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research note on Thursday. SunTrust Banks, Inc. raised shares of Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Thursday. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Veritiv Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $45.60.

Shares of Veritiv Corporation (NYSE VRTV) traded up 1.61% during mid-day trading on Monday, reaching $28.45. The company’s stock had a trading volume of 147,230 shares. The company’s 50-day moving average is $42.41 and its 200 day moving average is $48.72. The firm’s market cap is $446.64 million. Veritiv Corporation has a 12 month low of $27.90 and a 12 month high of $62.60.

Veritiv Corporation (NYSE:VRTV) last posted its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.32. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. Veritiv Corporation had a negative net margin of 0.02% and a positive return on equity of 5.43%. Veritiv Corporation’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts anticipate that Veritiv Corporation will post $1.89 EPS for the current year.

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In other news, SVP Thomas S. Lazzaro acquired 5,000 shares of the stock in a transaction dated Thursday, May 11th. The stock was purchased at an average cost of $40.90 per share, with a total value of $204,500.00. Following the completion of the purchase, the senior vice president now owns 17,505 shares in the company, valued at approximately $715,954.50. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in VRTV. State Street Corp increased its position in Veritiv Corporation by 15.1% in the fourth quarter. State Street Corp now owns 186,280 shares of the basic materials company’s stock worth $10,020,000 after buying an additional 24,442 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Veritiv Corporation by 22.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 410,545 shares of the basic materials company’s stock worth $22,067,000 after buying an additional 76,575 shares during the last quarter. Renaissance Technologies LLC increased its position in Veritiv Corporation by 42.4% in the fourth quarter. Renaissance Technologies LLC now owns 14,100 shares of the basic materials company’s stock worth $758,000 after buying an additional 4,200 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Veritiv Corporation by 22.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,050 shares of the basic materials company’s stock worth $271,000 after buying an additional 910 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in Veritiv Corporation by 34.3% in the fourth quarter. Teachers Advisors LLC now owns 29,288 shares of the basic materials company’s stock worth $1,574,000 after buying an additional 7,488 shares during the last quarter. 88.83% of the stock is owned by institutional investors.

About Veritiv Corporation

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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