Wells Fargo & Company lowered shares of Veritiv Corporation (NYSE:VRTV) from an outperform rating to a market perform rating in a research note released on Wednesday, MarketBeat.com reports.

A number of other brokerages have also recently issued reports on VRTV. Zacks Investment Research cut Veritiv Corporation from a hold rating to a sell rating in a report on Saturday, August 5th. BidaskClub upgraded Veritiv Corporation from a sell rating to a hold rating in a report on Thursday, September 28th. Bank of America Corporation cut Veritiv Corporation from a buy rating to a neutral rating and decreased their target price for the stock from $64.00 to $36.00 in a report on Thursday, August 3rd. William Blair cut Veritiv Corporation from an outperform rating to a market perform rating in a report on Wednesday, August 9th. Finally, TheStreet cut Veritiv Corporation from a c- rating to a d+ rating in a report on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Veritiv Corporation presently has an average rating of Hold and a consensus price target of $33.00.

Shares of Veritiv Corporation (NYSE VRTV) traded up $0.10 during mid-day trading on Wednesday, hitting $23.65. The stock had a trading volume of 174,100 shares, compared to its average volume of 118,600. The company has a current ratio of 2.36, a quick ratio of 1.55 and a debt-to-equity ratio of 1.81. The firm has a market cap of $371.30, a PE ratio of 8.92 and a beta of 1.22. Veritiv Corporation has a one year low of $20.35 and a one year high of $62.60.

ILLEGAL ACTIVITY NOTICE: “Wells Fargo & Company Lowers Veritiv Corporation (VRTV) to Market Perform” was first posted by Daily Political and is the property of of Daily Political. If you are accessing this piece on another publication, it was copied illegally and republished in violation of international copyright laws. The correct version of this piece can be viewed at https://www.dailypolitical.com/2017/11/12/wells-fargo-company-lowers-veritiv-corporation-vrtv-to-market-perform.html.

In other news, Chairman Mary A. Laschinger acquired 3,300 shares of Veritiv Corporation stock in a transaction that occurred on Tuesday, September 12th. The stock was purchased at an average price of $30.22 per share, with a total value of $99,726.00. Following the completion of the transaction, the chairman now owns 63,993 shares in the company, valued at $1,933,868.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles Ward acquired 20,000 shares of Veritiv Corporation stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average cost of $23.63 per share, with a total value of $472,600.00. Following the transaction, 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.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC acquired a new stake in Veritiv Corporation during the second quarter valued at $55,381,000. Dimensional Fund Advisors LP boosted its position in Veritiv Corporation by 31.7% during the second quarter. Dimensional Fund Advisors LP now owns 628,782 shares of the basic materials company’s stock valued at $28,295,000 after purchasing an additional 151,207 shares during the last quarter. Vanguard Group Inc. boosted its position in Veritiv Corporation by 1.1% during the second quarter. Vanguard Group Inc. now owns 589,334 shares of the basic materials company’s stock valued at $26,521,000 after purchasing an additional 6,346 shares during the last quarter. State Street Corp boosted its position in Veritiv Corporation by 15.2% during the second quarter. State Street Corp now owns 248,552 shares of the basic materials company’s stock valued at $11,193,000 after purchasing an additional 32,835 shares during the last quarter. Finally, Morgan Stanley boosted its position in Veritiv Corporation by 570.2% during the first quarter. Morgan Stanley now owns 209,167 shares of the basic materials company’s stock valued at $10,836,000 after purchasing an additional 177,956 shares during the last quarter. 92.57% of the stock is owned by hedge funds and other 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)

Receive News & Ratings for Veritiv Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritiv Corporation and related companies with MarketBeat.com's FREE daily email newsletter.