Veritiv Corp (VRTV) Receives Consensus Rating of “Hold” from Analysts

Veritiv Corp (NYSE:VRTV) has been given a consensus rating of “Hold” by the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $31.33.

A number of equities analysts have recently weighed in on VRTV shares. Zacks Investment Research cut shares of Veritiv from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. BidaskClub raised shares of Veritiv from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. William Blair cut shares of Veritiv from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 9th. TheStreet cut shares of Veritiv from a “c-” rating to a “d+” rating in a research report on Monday, August 21st. Finally, Barclays cut their price objective on shares of Veritiv from $25.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, November 10th.

In related news, Director Charles Ward acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were acquired 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tracy A. Leinbach acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was bought at an average cost of $23.69 per share, for a total transaction of $118,450.00. The disclosure for this purchase can be found here. Insiders purchased a total of 28,300 shares of company stock worth $690,776 over the last ninety days. 0.25% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue increased its stake in Veritiv by 78.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,260 shares of the basic materials company’s stock valued at $101,000 after buying an additional 990 shares during the last quarter. Victory Capital Management Inc. increased its stake in Veritiv by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,295 shares of the basic materials company’s stock valued at $103,000 after buying an additional 344 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Veritiv in the 2nd quarter valued at $124,000. BNP Paribas Arbitrage SA increased its stake in Veritiv by 49.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,420 shares of the basic materials company’s stock valued at $199,000 after buying an additional 1,469 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Veritiv by 14.1% in the 1st quarter. Alliancebernstein L.P. now owns 4,834 shares of the basic materials company’s stock valued at $250,000 after buying an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Veritiv (VRTV) opened at $27.15 on Wednesday. The firm has a market cap of $418.41, a price-to-earnings ratio of 10.06 and a beta of 1.10. Veritiv has a 52-week low of $20.35 and a 52-week high of $62.60. The company has a current ratio of 2.36, a quick ratio of 1.51 and a debt-to-equity ratio of 1.81.

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About Veritiv

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 (NYSE:VRTV)

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