New Rating issued on Veritiv Corp (VRTV): Initiated by Wells Fargo to “Market Perform”

Veritiv Corp (VRTV) was Initiated by Wells Fargo to “Market Perform”. Wells Fargo advised their Clients and Investors in a research report released on Mar 15, 2017.

Based on several research reports , Veritiv Corp was Initiated by Wells Fargo to “Market Perform” on Mar 15, 2017. Veritiv Corp was Initiated by BofA/Merrill to “Buy” on Jan 11, 2017.

Several company insiders have filed Insider transactions , on Mar 23, 2016, Stephen Joseph Smith (CFO) purchased 500 shares at $38.73 per share price. According to the SEC, on Nov 18, 2015, Mary A Laschinger (CEO) purchased 5,000 shares at $36.79 per share price. On Aug 27, 2015, Elizabeth Patrick (SVP & CHRO) purchased 750 shares at $34.32 per share price, according to the Form-4 filing with the securities and exchange commission.

On the company’s financial health, Veritiv Corp reported $0.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.72 based on the information available during the earnings call on Mar 14, 2017. Analyst had a consensus of $0.98. The company had revenue of $2119.40 million for the quarter, compared to analysts expectations of $2119.09 million. The company’s revenue was down -3.7 % compared to the same quarter last year.

Veritiv Corp opened for trading at $56.15 and hit $62.6 on the upside on Wednesday, eventually ending the session at $62.25, with a gain of 11.26% or 6.3 points. The heightened volatility saw the trading volume jump to 1,93,013 shares. Company has a market cap of $977 M.

Veritiv Corporation (Veritiv) is a business-to-business distributor of print publishing packaging facility and logistics solutions. The Company operates from more than 180 distribution centers primarily throughout the United States Canada and Mexico serving customers across a d range of industries. The Company operates through four segments: Print Publishing Packaging and Facility Solutions. The Company 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 Company’s Veritiv Logistics Solutions business provides transportation and warehousing solutions. The Company’s portfolio of private label products includes coated and uncoated papers under the Endurance brand; packaging products under the TUFflex brand and cleaning chemicals among others.

Veritiv Corp

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