Pactiv Evergreen Inc. (NASDAQ:PTVE) Receives $16.00 Average PT from Analysts

Pactiv Evergreen Inc. (NASDAQ:PTVEGet Free Report) has been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $16.00.

Several research firms have recently weighed in on PTVE. Jefferies Financial Group began coverage on Pactiv Evergreen in a research note on Friday, January 19th. They issued a “buy” rating and a $18.00 price target for the company. Robert W. Baird boosted their price target on Pactiv Evergreen from $12.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Citigroup boosted their price target on Pactiv Evergreen from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Bank of America upgraded Pactiv Evergreen from a “neutral” rating to a “buy” rating and upped their price objective for the company from $14.00 to $16.00 in a research report on Tuesday, January 2nd. Finally, UBS Group started coverage on Pactiv Evergreen in a research report on Tuesday, January 16th. They set a “buy” rating and a $19.00 price objective for the company.

Read Our Latest Stock Analysis on Pactiv Evergreen

Pactiv Evergreen Trading Down 0.1 %

Pactiv Evergreen stock opened at $14.33 on Thursday. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.69. The business’s fifty day simple moving average is $14.16 and its two-hundred day simple moving average is $12.53. Pactiv Evergreen has a 12 month low of $6.85 and a 12 month high of $15.51. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -11.37, a price-to-earnings-growth ratio of 0.91 and a beta of 1.50.

Pactiv Evergreen (NASDAQ:PTVEGet Free Report) last released its earnings results on Friday, March 1st. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.14 by $0.19. Pactiv Evergreen had a positive return on equity of 13.24% and a negative net margin of 4.05%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was down 13.7% compared to the same quarter last year. As a group, equities analysts predict that Pactiv Evergreen will post 1.13 earnings per share for the current fiscal year.

Pactiv Evergreen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Thursday, March 14th. Pactiv Evergreen’s payout ratio is -31.75%.

Institutional Trading of Pactiv Evergreen

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in shares of Pactiv Evergreen by 0.8% in the third quarter. Invesco Ltd. now owns 124,691 shares of the company’s stock worth $1,014,000 after acquiring an additional 994 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Pactiv Evergreen by 10.0% in the third quarter. Janney Montgomery Scott LLC now owns 13,155 shares of the company’s stock worth $107,000 after acquiring an additional 1,196 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Pactiv Evergreen by 59.0% in the first quarter. Tower Research Capital LLC TRC now owns 4,570 shares of the company’s stock worth $37,000 after acquiring an additional 1,695 shares during the period. Federated Hermes Inc. boosted its stake in shares of Pactiv Evergreen by 109.7% in the fourth quarter. Federated Hermes Inc. now owns 3,476 shares of the company’s stock worth $48,000 after acquiring an additional 1,818 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Pactiv Evergreen by 2.1% in the third quarter. Swiss National Bank now owns 97,900 shares of the company’s stock worth $796,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 22.23% of the company’s stock.

About Pactiv Evergreen

(Get Free Report

Pactiv Evergreen Inc manufactures and distributes fresh foodservice and food merchandising products, and fresh beverage cartons in the United States, rest of North America, and internationally. It operates in two segments, Foodservice, and Food and Beverage Merchandising. The Foodservice segment offers food containers; drinkware, such as hot and cold cups and lids; and tableware, service ware, and other products.

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Analyst Recommendations for Pactiv Evergreen (NASDAQ:PTVE)

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