The stock of Veritiv Corp (NYSE:VRTV) hit a new 52-week high and has $91.36 target or 63.00% above today’s $56.05 share price. The 5 months bullish chart indicates low risk for the $878.08M company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $91.36 price target is reached, the company will be worth $553.19M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 33,186 shares traded hands. Veritiv Corp (NYSE:VRTV) has risen 44.22% since April 5, 2016 and is uptrending. It has outperformed by 42.27% the S&P500.
Analysts await Veritiv Corp (NYSE:VRTV) to report earnings on November, 10. They expect $1.21 EPS, down 25.31% or $0.41 from last year’s $1.62 per share. VRTV’s profit will be $18.96 million for 11.58 P/E if the $1.21 EPS becomes a reality. After $0.49 actual EPS reported by Veritiv Corp for the previous quarter, Wall Street now forecasts 146.94% EPS growth.
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 Q2 2016. Its up 0.12, from 0.84 in 2016Q1. The ratio increased, 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.
Ls Invest Ltd Company, a Michigan-based fund reported 274 shares. Donald Smith And Inc holds 0.37% or 365,861 shares in its portfolio. Mark Sheptoff Planning Ltd Liability Corporation last reported 0% of its portfolio in the stock. Tarbox Grp Incorporated, a California-based fund reported 228 shares. Moreover, Bnp Paribas Arbitrage Sa has 0% invested in Veritiv Corp (NYSE:VRTV) for 2,583 shares. The Ohio-based Strs Ohio has invested 0% in Veritiv Corp (NYSE:VRTV). Vantage Inv Advsr Ltd Limited Liability Company has 0% invested in the company for 1 shares. Shamrock Asset Ltd Liability holds 0% of its portfolio in Veritiv Corp (NYSE:VRTV) for 4 shares. Next Fin Grp Inc has 0% invested in the company for 82 shares. Moreover, Natl Bank Of New York Mellon has 0% invested in Veritiv Corp (NYSE:VRTV) for 80,074 shares. Dekabank Deutsche Girozentrale accumulated 554 shares or 0% of the stock. Ladenburg Thalmann Services holds 0% of its portfolio in Veritiv Corp (NYSE:VRTV) for 96 shares. The United Kingdom-based Barclays Public Limited Liability has invested 0% in Veritiv Corp (NYSE:VRTV). Reilly Advsr Ltd Liability accumulated 0% or 7 shares. Century accumulated 0% or 20,279 shares.
More important 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 article titled: “Veritiv Corporation Now a Strong Sell on Bleak Prospects”, Seekingalpha.com published: “Veritiv Corp. For The Value Investor?” on August 26, 2014. More interesting news about Veritiv Corp (NYSE:VRTV) was released by: Streetinsider.com and their article: “International Paper (IP) Completes Veritiv (VRTV) Spin-Off; Starts Trading …” with publication date: July 02, 2014.
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.
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