Pactiv Evergreen Inc. (NASDAQ:PTVE) Receives Average Rating of “Hold” from Brokerages

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) have earned an average recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $16.33.

PTVE has been the topic of a number of research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $18.00 target price (up previously from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. Citigroup reissued a “neutral” rating and set a $18.00 price target (up from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price target (up from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Finally, UBS Group cut shares of Pactiv Evergreen from a “buy” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $18.00 in a research report on Friday, January 10th.

Pactiv Evergreen Trading Up 0.2 %

Shares of PTVE opened at $17.86 on Friday. The firm’s 50-day moving average price is $17.66 and its 200-day moving average price is $14.31. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -19.41, a PEG ratio of 1.47 and a beta of 1.24. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. Pactiv Evergreen has a 1-year low of $8.83 and a 1-year high of $17.88.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. AlphaQuest LLC raised its holdings in Pactiv Evergreen by 10,155.9% in the fourth quarter. AlphaQuest LLC now owns 3,487 shares of the company’s stock worth $61,000 after buying an additional 3,453 shares during the last quarter. Intech Investment Management LLC purchased a new position in Pactiv Evergreen in the third quarter worth about $132,000. Blue Trust Inc. raised its holdings in Pactiv Evergreen by 1,590.7% in the fourth quarter. Blue Trust Inc. now owns 7,963 shares of the company’s stock worth $139,000 after buying an additional 7,492 shares during the last quarter. State of Wyoming raised its holdings in Pactiv Evergreen by 109.7% in the fourth quarter. State of Wyoming now owns 9,071 shares of the company’s stock worth $158,000 after buying an additional 4,745 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in Pactiv Evergreen in the fourth quarter worth about $177,000. 22.23% of the stock is owned by hedge funds and other institutional investors.

About Pactiv Evergreen

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.