Veritiv Corporation (NYSE:VRTV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

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. “

Several other equities research analysts have also commented on the stock. Wells Fargo & Company upgraded shares of Veritiv Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 18th. BidaskClub lowered shares of Veritiv Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. SunTrust Banks, Inc. upgraded shares of Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Thursday. 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 set a $36.00 price target on the stock. in a research note on Thursday. Finally, William Blair lowered shares of Veritiv Corporation from an “outperform” rating to a “market perform” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $50.75.

Veritiv Corporation (NYSE VRTV) opened at 28.00 on Friday. The firm’s market cap is $439.57 million. Veritiv Corporation has a 12 month low of $27.40 and a 12 month high of $62.60. The company has a 50-day moving average price of $42.41 and a 200 day moving average price of $48.72.

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

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In related news, SVP Thomas S. Lazzaro acquired 5,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were acquired at an average price of $40.90 per share, for a total transaction of $204,500.00. Following the completion of the purchase, the senior vice president now directly owns 17,505 shares of the company’s stock, valued at $715,954.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of VRTV. Capstone Asset Management Co. raised its position in Veritiv Corporation by 1.7% in the first quarter. Capstone Asset Management Co. now owns 6,666 shares of the basic materials company’s stock worth $345,000 after buying an additional 110 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Veritiv Corporation by 4.3% in the first quarter. BNP Paribas Arbitrage SA now owns 2,951 shares of the basic materials company’s stock worth $153,000 after buying an additional 122 shares in the last quarter. Arizona State Retirement System raised its position in Veritiv Corporation by 4.1% in the first quarter. Arizona State Retirement System now owns 5,021 shares of the basic materials company’s stock worth $260,000 after buying an additional 200 shares in the last quarter. Capital One National Association raised its position in Veritiv Corporation by 6.1% in the second quarter. Capital One National Association now owns 9,665 shares of the basic materials company’s stock worth $435,000 after buying an additional 556 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Veritiv Corporation by 44.2% in the first quarter. Victory Capital Management Inc. now owns 1,951 shares of the basic materials company’s stock worth $101,000 after buying an additional 598 shares in the last quarter. Institutional investors and hedge funds own 89.16% of the company’s stock.

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.

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Analyst Recommendations for Veritiv Corporation (NYSE:VRTV)

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