Company shares are trading at $31.25 marginally over $29.12, the 50 day moving average and which is much lower than the 200 day moving average of $42.08. The 50 day moving average was up by +7.30% whereas the 200 day average was down by -25.74%. Trading volume for Veritiv Corporation was 110K by the end of trading on Wednesday. Trading volume was up 100.31% over the stocks average daily volume.
Traders are feeling more bullish recently if you take into consideration the motion in short interest. The company had a fall in short interest between August 15, 2017 and August 31, 2017 of -7.75%. Short interest fell 29,722 over that period. With short interest at 353,604 and short average daily volume at 69,314, the short-interest ratio is 5.0 and the percentage of shorted shares is 0.02% as of August 31.
These firms have modified their investment in VRTV. Janus Capital Management LLC grew its holdings by buying 136,536 shares an increase of 18.4% in the quarter. Janus Capital Management LLC now holds 876,895 shares worth $45,423,000. The value of the position overall is up by 14.1%. As of the end of the quarter Next Financial Group, Inc had sold a total of 5 shares trimming its holdings by 6.8%. The value of the total investment in Veritiv Corporation increased from $4,000 to $3,000,000 a change of $2,996,000 for the reporting period.
Ubs Group Ag reduced its investment by selling 591 shares a decrease of 43.0%. Ubs Group Ag currently owns 784 shares valued at $35,000. The total value of its holdings decreased 50.7%. Bronfman E.l. Rothschild, L.p. augmented its position by buying 362 shares an increase of 139.8% from 03/31/2017 to 06/30/2017. Bronfman E.l. Rothschild, L.p. now controls 621 shares with a value of $28,000. The total value of its holdings increased 115.4%.
On August 7 Barclays made no change to the company rating of “Underweight” and lowered the price target to $25.00 from $32.00. On August 3 the stock rating was downgraded to “Market Perform” from “Outperform” in an announcement from William Blair.
On August 3 the company was upgraded from “Neutral” to “Buy” by analysts at SunTrust Robinson Humphrey.
In the latest earnings report the EPS was $-0.09 and is estimated to be $1.48 for the current year with 15,700,000 shares presently outstanding. Next quarter’s EPS is expected be $1.32 and the next full year EPS is projected to be $3.23.
Veritiv Corporation, launched on July 10, 2013, is a business-to-business distributor of print, publishing, packaging and facility solutions. Additionally, the Company provides logistics and supply chain management solutions to its customers. The Business’s segments are Print, Publishing & Print Management (Publishing), Packaging, Facility Solutions, and Corporate & Other. As of December 31, 2016, the Company operated from approximately 170 distribution centers primarily throughout the United States, Canada and Mexico, serving customers across a range of industries. These customers include printers, publishers, data centers, manufacturers, higher education institutions, healthcare facilities, sporting and performance arenas, retail stores, government agencies, property managers and building service contractors. Its logistics solutions business provides transportation and warehousing solutions..