Pactiv Evergreen Inc. (NASDAQ:PTVE) Given Consensus Rating of “Hold” by Brokerages

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) have been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $16.33.

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

Institutional Trading of Pactiv Evergreen

Large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its holdings in shares of Pactiv Evergreen by 111.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 145,240 shares of the company’s stock valued at $2,537,000 after acquiring an additional 76,440 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Pactiv Evergreen in the 3rd quarter valued at $2,074,000. SG Americas Securities LLC purchased a new stake in Pactiv Evergreen during the fourth quarter worth $270,000. Allspring Global Investments Holdings LLC boosted its holdings in Pactiv Evergreen by 183.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 81,543 shares of the company’s stock worth $939,000 after buying an additional 52,775 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in Pactiv Evergreen during the fourth quarter worth $9,958,000. 22.23% of the stock is owned by hedge funds and other institutional investors.

Pactiv Evergreen Stock Performance

NASDAQ PTVE opened at $17.83 on Friday. 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 firm has a market cap of $3.20 billion, a PE ratio of -19.38, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. The company has a 50 day moving average price of $17.65 and a 200 day moving average price of $14.22. Pactiv Evergreen has a 52 week low of $8.83 and a 52 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.