Veritiv Corp (NYSE:VRTV) was the recipient of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 399,000 shares, a decrease of 9.2% from the May 15th total of 439,600 shares. Based on an average daily trading volume, of 86,600 shares, the short-interest ratio is currently 4.6 days. Approximately 3.2% of the company’s stock are sold short.
Shares of NYSE VRTV traded up $0.35 during trading on Friday, hitting $16.67. The stock had a trading volume of 107,628 shares, compared to its average volume of 103,990. Veritiv has a 12 month low of $16.11 and a 12 month high of $51.00. The company has a quick ratio of 1.46, a current ratio of 2.25 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $267.97 million, a P/E ratio of 7.03 and a beta of 1.46. The company’s fifty day moving average price is $18.49.
Veritiv (NYSE:VRTV) last posted its earnings results on Thursday, May 9th. The basic materials company reported ($1.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($2.11). The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.11 billion. Veritiv had a positive return on equity of 0.48% and a negative net margin of 0.31%. The business’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. On average, research analysts predict that Veritiv will post -0.2 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB raised its position in shares of Veritiv by 3.0% in the 1st quarter. Nordea Investment Management AB now owns 51,400 shares of the basic materials company’s stock worth $1,352,000 after purchasing an additional 1,500 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Veritiv in the 1st quarter worth about $341,000. ClariVest Asset Management LLC raised its position in shares of Veritiv by 3.0% in the 1st quarter. ClariVest Asset Management LLC now owns 51,400 shares of the basic materials company’s stock worth $1,352,000 after purchasing an additional 1,500 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Veritiv by 42.4% in the 1st quarter. JPMorgan Chase & Co. now owns 433,601 shares of the basic materials company’s stock worth $11,413,000 after purchasing an additional 129,074 shares during the last quarter. Finally, Spark Investment Management LLC raised its position in shares of Veritiv by 19.5% in the 1st quarter. Spark Investment Management LLC now owns 75,377 shares of the basic materials company’s stock worth $1,983,000 after purchasing an additional 12,277 shares during the last quarter. Institutional investors own 91.63% of the company’s stock.
Several research firms have recently issued reports on VRTV. Zacks Investment Research upgraded shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday. Bank of America upgraded shares of Copa from a “neutral” rating to a “buy” rating in a research note on Monday, May 13th. Finally, ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $33.33.
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, 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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