Pactiv Evergreen Inc. (NASDAQ:PTVE) Receives Average Rating of “Moderate Buy” from Analysts

by · The Markets Daily

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE – Get Free Report) have been assigned an average rating of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $14.57.

A number of analysts recently commented on the stock. Royal Bank of Canada dropped their price target on shares of Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Citigroup decreased their target price on shares of Pactiv Evergreen from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Robert W. Baird decreased their target price on shares of Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, UBS Group decreased their target price on shares of Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

Check Out Our Latest Stock Report on PTVE

Pactiv Evergreen Stock Performance

Shares of PTVE stock opened at $11.31 on Monday. The stock has a market capitalization of $2.03 billion, a P/E ratio of 26.93, a PEG ratio of 1.28 and a beta of 1.30. The company has a current ratio of 2.04, a quick ratio of 0.93 and a debt-to-equity ratio of 2.72. The firm’s 50 day moving average is $11.58 and its 200 day moving average is $12.05. Pactiv Evergreen has a 12 month low of $8.83 and a 12 month high of $15.84.

Hedge Funds Weigh In On Pactiv Evergreen

A number of institutional investors have recently made changes to their positions in PTVE. Oliver Luxxe Assets LLC bought a new position in shares of Pactiv Evergreen in the 1st quarter worth $667,000. Principal Financial Group Inc. bought a new position in shares of Pactiv Evergreen in the 1st quarter worth $274,000. GSA Capital Partners LLP increased its holdings in shares of Pactiv Evergreen by 18.8% in the 1st quarter. GSA Capital Partners LLP now owns 85,798 shares of the company’s stock worth $1,229,000 after buying an additional 13,596 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Pactiv Evergreen by 8.4% in the 1st quarter. Empowered Funds LLC now owns 586,475 shares of the company’s stock worth $8,398,000 after buying an additional 45,268 shares during the last quarter. Finally, ClariVest Asset Management LLC increased its holdings in shares of Pactiv Evergreen by 96,634.4% in the 1st quarter. ClariVest Asset Management LLC now owns 61,910 shares of the company’s stock worth $887,000 after buying an additional 61,846 shares during the last quarter. 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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