Verso (NYSE:VRS) Downgraded by Zacks Investment Research to Hold

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Zacks Investment Research lowered shares of Verso (NYSE:VRS) from a buy rating to a hold rating in a report published on Saturday morning, Zacks.com reports.

According to Zacks, “Verso Corporation makes printing papers used primarily in commercial printing, media and marketing applications, including magazines, catalogs, books, direct mail, corporate collateral and retail inserts. Their specialty papers are used primarily in label and converting, flexible packaging and technical paper applications. They also produce market kraft pulp, which is used to manufacture printing and writing paper grades and tissue products. Verso is headquartered in Miamisburg, Ohio, with a Technical Center in Biron, Wisconsin; seven paper mills in Maine, Maryland, Michigan, Minnesota and Wisconsin; and more than 30 distribution centers and warehouses strategically located across the country. “

A number of other research firms also recently commented on VRS. B. Riley set a $169.00 target price on Intercept Pharmaceuticals and gave the stock a buy rating in a research report on Friday, April 12th. ValuEngine downgraded Verso from a hold rating to a sell rating in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $32.33.

VRS opened at $17.83 on Friday. The business’s fifty day moving average price is $18.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.69 and a current ratio of 2.21. The stock has a market capitalization of $614.85 million, a P/E ratio of 3.81 and a beta of 1.76. Verso has a one year low of $16.55 and a one year high of $34.60.

Verso (NYSE:VRS) last posted its earnings results on Wednesday, May 8th. The basic materials company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.68. The company had revenue of $639.00 million for the quarter, compared to the consensus estimate of $632.26 million. Verso had a return on equity of 19.09% and a net margin of 7.79%. Equities analysts anticipate that Verso will post 2.85 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. WINTON GROUP Ltd lifted its holdings in Verso by 50.4% during the 2nd quarter. WINTON GROUP Ltd now owns 87,684 shares of the basic materials company’s stock worth $1,670,000 after buying an additional 29,400 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Verso by 3.0% during the 1st quarter. Nordea Investment Management AB now owns 103,746 shares of the basic materials company’s stock worth $2,222,000 after buying an additional 3,000 shares during the last quarter. Cove Street Capital LLC bought a new position in Verso during the 1st quarter worth approximately $415,000. SCW Capital Management LP lifted its holdings in Verso by 4.6% during the 1st quarter. SCW Capital Management LP now owns 1,242,598 shares of the basic materials company’s stock worth $26,616,000 after buying an additional 55,002 shares during the last quarter. Finally, Donald Smith & CO. Inc. lifted its holdings in Verso by 136.1% during the 1st quarter. Donald Smith & CO. Inc. now owns 225,851 shares of the basic materials company’s stock worth $4,838,000 after buying an additional 130,200 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

About Verso

Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated freesheet and coated groundwood, specialty, packaging, inkjet and digital, supercalendered, and uncoated freesheet papers; and bleached and unbleached market kraft pulp to manufacture printing, writing, and tissue products.

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