Price Action to Note: What’s Ahead for Veritiv Corp After Today’s Big Decline?

Price Action to Note: What's Ahead for Veritiv Corp After Today's Big Decline?

The stock of Veritiv Corp (NYSE:VRTV) is a huge mover today! About 77,479 shares traded hands or 47.47% up from the average. Veritiv Corp (NYSE:VRTV) has risen 40.66% since April 14, 2016 and is uptrending. It has outperformed by 35.98% the S&P500.
The move comes after 9 months negative chart setup for the $797.42M company. It was reported on Nov, 16 by Barchart.com. We have $44.45 PT which if reached, will make NYSE:VRTV worth $71.77 million less.

Veritiv Corp (NYSE:VRTV) Ratings Coverage

Out of 2 analysts covering Veritiv Corp (NYSE:VRTV), 0 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 0 are positive. Veritiv Corp has been the topic of 3 analyst reports since November 18, 2015 according to StockzIntelligence Inc. The rating was downgraded by Barclays Capital on Friday, January 8 to “Underweight”. The stock of Veritiv Corp (NYSE:VRTV) has “Hold” rating given on Tuesday, November 8 by Vertical Research.

According to Zacks Investment Research, “Veritiv Corporation engages in offering North American business-to-business distribution solutions. It provides packaging, print and print management, publishing, supply chain, facility and logistics solutions that span the entire lifecycle of core business operations. The company’s customers vary across a number of industries, including manufacturing, healthcare, retail and more. Veritiv Corporation is headquartered in Atlanta, Georgia.”

Insitutional Activity: The institutional sentiment increased to 0.96 in 2016 Q2. Its up 0.12, from 0.84 in 2016Q1. The ratio is positive, as 13 funds sold all Veritiv Corp shares owned while 42 reduced positions. 16 funds bought stakes while 37 increased positions. They now own 15.53 million shares or 1.59% less from 15.78 million shares in 2016Q1.
Wfg Lp has 16 shares for 0% of their US portfolio. Morgan Stanley last reported 12,309 shares in the company. Northern Trust Corporation, a Illinois-based fund reported 95,715 shares. The Switzerland-based Credit Suisse Ag has invested 0% in Veritiv Corp (NYSE:VRTV). California Public Employees Retirement, a California-based fund reported 62,403 shares. The Tennessee-based State Of Tennessee Treasury Department has invested 0% in Veritiv Corp (NYSE:VRTV). Zebra Management Ltd Llc holds 21,474 shares or 0.28% of its portfolio. Dimensional Fund Advisors Limited Partnership has 0.01% invested in the company for 282,718 shares. Baupost Gru Limited Liability Ma, a Massachusetts-based fund reported 3.04 million shares. Commercial Bank Of Montreal Can reported 806 shares or 0% of all its holdings. Blackrock Inv Mgmt Limited Liability Company has 0% invested in the company for 36,566 shares. Qs Invsts Ltd Liability holds 0% or 7 shares in its portfolio. First Manhattan Company accumulated 111 shares or 0% of the stock. Kestrel Invest Mngmt reported 138,350 shares or 2.15% of all its holdings. Cranbrook Wealth Limited Liability Corporation owns 3 shares or 0% of their US portfolio.

More recent Veritiv Corp (NYSE:VRTV) news were published by: Cincinnati.com which released: “Veritiv moving 400 jobs to Fairfield” on January 25, 2016. Also Zacks.com published the news titled: “Veritiv Corporation Now a Strong Sell on Bleak Prospects” on September 19, 2016. Seekingalpha.com‘s news article titled: “Veritiv Corp. For The Value Investor?” with publication date: August 26, 2014 was also an interesting one.

VRTV Company Profile

Veritiv Corporation (Veritiv), incorporated on July 10, 2013, is a business-to-business distributor of print, publishing, packaging, facility and logistics solutions. The Firm operates from approximately 180 distribution centers primarily across the United States, Canada and Mexico, serving clients across a range of industries. The Firm operates through four divisions: Print, Publishing, Packaging and Facility Solutions. The Firm provides services to printers, publishers, commercial printing, data centers, manufacturers, higher education institutions, healthcare facilities, sporting and performance arenas, retail stores, government agencies, property managers and building service contractors. The Veritiv Logistics Solutions business provides transportation and warehousing solutions.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment