Veritiv Corp (VRTV) Given Average Rating of “Hold” by Brokerages
Shares of Veritiv Corp (NYSE:VRTV) have received a consensus rating of “Hold” from the seven analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $39.50.
Several research analysts have recently issued reports on VRTV shares. ValuEngine downgraded Veritiv from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Zacks Investment Research downgraded shares of Veritiv from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Sidoti assumed coverage on shares of Veritiv in a research note on Wednesday, October 24th. They issued a “buy” rating and a $44.00 target price for the company. SunTrust Banks boosted their target price on shares of Veritiv to $40.00 and gave the company a “hold” rating in a research note on Friday, August 10th. Finally, TheStreet raised shares of Veritiv from a “d+” rating to a “c” rating in a research note on Monday, August 13th.
In other news, major shareholder Bain Capital Investors Llc sold 1,500,000 shares of the company’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $41.40, for a total transaction of $62,100,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mary A. Laschinger acquired 3,350 shares of the company’s stock in a transaction dated Monday, November 19th. The shares were bought at an average cost of $29.79 per share, with a total value of $99,796.50. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.
NYSE:VRTV opened at $29.35 on Wednesday. The firm has a market cap of $471.91 million, a PE ratio of -34.53 and a beta of 0.67. The company has a debt-to-equity ratio of 1.86, a current ratio of 2.32 and a quick ratio of 1.53. Veritiv has a 52-week low of $22.28 and a 52-week high of $51.00.
Veritiv (NYSE:VRTV) last released its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.21). The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.18 billion. Veritiv had a positive return on equity of 6.77% and a negative net margin of 0.15%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.91) EPS. On average, analysts expect that Veritiv will post 2.97 EPS for the current fiscal year.
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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