Veritiv (VRTV) Sets New 52-Week Low at $21.18

Veritiv Corp (NYSE:VRTV)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $21.18 and last traded at $21.36, with a volume of 1064 shares. The stock had previously closed at $21.86.

Several equities analysts recently commented on VRTV shares. Bank of America raised Veritiv from a “neutral” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Tuesday, March 5th. They noted that the move was a valuation call. SunTrust Banks reduced their price target on Veritiv to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, March 6th. ValuEngine raised Veritiv from a “sell” rating to a “hold” rating in a research report on Thursday, January 17th. Finally, Zacks Investment Research lowered Veritiv from a “hold” rating to a “sell” rating in a research report on Friday, March 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $36.00.

The stock has a market capitalization of $348.35 million, a P/E ratio of 9.05 and a beta of 1.14. The company has a quick ratio of 1.46, a current ratio of 2.25 and a debt-to-equity ratio of 1.80.

Veritiv (NYSE:VRTV) last released its quarterly earnings results on Thursday, February 28th. The basic materials company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.87). The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.25 billion. Veritiv had a positive return on equity of 0.48% and a negative net margin of 0.31%. As a group, research analysts anticipate that Veritiv Corp will post 0.9 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in VRTV. Strs Ohio increased its holdings in Veritiv by 13.5% during the 4th quarter. Strs Ohio now owns 21,900 shares of the basic materials company’s stock worth $546,000 after purchasing an additional 2,600 shares during the last quarter. Vanguard Group Inc increased its holdings in Veritiv by 11.3% during the 3rd quarter. Vanguard Group Inc now owns 710,919 shares of the basic materials company’s stock worth $25,878,000 after purchasing an additional 72,027 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Veritiv by 14.9% during the 4th quarter. State of Alaska Department of Revenue now owns 4,230 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 550 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Veritiv during the 1st quarter worth approximately $52,000. Finally, Northern Trust Corp increased its holdings in Veritiv by 4.8% during the 4th quarter. Northern Trust Corp now owns 154,373 shares of the basic materials company’s stock worth $3,856,000 after purchasing an additional 7,077 shares during the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

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Veritiv Company Profile (NYSE:VRTV)

Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard, custom, and comprehensive packaging solutions.

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