Pactiv Evergreen Inc. (NASDAQ:PTVE) Receives $16.33 Consensus Target Price from Analysts

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) have been given a consensus recommendation of “Hold” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $16.33.

A number of research firms have recently commented on PTVE. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price objective (up from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. UBS Group downgraded Pactiv Evergreen from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $16.00 to $18.00 in a report on Friday, January 10th. Jefferies Financial Group restated a “hold” rating and set a $18.00 price objective (up from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Finally, Citigroup restated a “neutral” rating and set a $18.00 price objective (up from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th.

Institutional Trading of Pactiv Evergreen

Several large investors have recently added to or reduced their stakes in the stock. Magnetar Financial LLC acquired a new stake in Pactiv Evergreen in the 4th quarter valued at $53,645,000. Dimensional Fund Advisors LP increased its holdings in Pactiv Evergreen by 7.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,884,505 shares of the company’s stock valued at $50,392,000 after purchasing an additional 205,051 shares in the last quarter. TIG Advisors LLC acquired a new stake in Pactiv Evergreen in the 4th quarter valued at $44,120,000. Westchester Capital Management LLC acquired a new stake in Pactiv Evergreen in the 4th quarter valued at $30,149,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Pactiv Evergreen in the 4th quarter valued at $22,476,000. 22.23% of the stock is currently owned by institutional investors and hedge funds.

Pactiv Evergreen Trading Up 0.1 %

Shares of Pactiv Evergreen stock opened at $17.84 on Friday. The firm has a market cap of $3.20 billion, a PE ratio of -19.39, a P/E/G ratio of 1.47 and a beta of 1.24. The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26. The business’s fifty day moving average is $17.63 and its two-hundred day moving average is $14.17. Pactiv Evergreen has a fifty-two week low of $8.83 and a fifty-two week high of $17.86.

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.