Brokerages Set Pactiv Evergreen Inc. (NASDAQ:PTVE) Target Price at $16.33

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

PTVE has been the topic of several analyst reports. Citigroup reiterated a “neutral” rating and set a $18.00 price target (up previously from $13.00) on shares of Pactiv Evergreen in a research note on Tuesday, December 10th. 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 research report on Thursday, December 19th. 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 research report on Wednesday, December 18th. Finally, UBS Group downgraded 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 report on Friday, January 10th.

Institutional Trading of Pactiv Evergreen

A number of large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in Pactiv Evergreen by 183.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 81,543 shares of the company’s stock valued at $939,000 after buying an additional 52,775 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Pactiv Evergreen in the 3rd quarter worth approximately $2,074,000. Empowered Funds LLC lifted its position in shares of Pactiv Evergreen by 17.3% in the 3rd quarter. Empowered Funds LLC now owns 741,456 shares of the company’s stock worth $8,534,000 after purchasing an additional 109,513 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in shares of Pactiv Evergreen in the 3rd quarter worth approximately $3,899,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Pactiv Evergreen in the 3rd quarter worth approximately $132,000. 22.23% of the stock is currently owned by institutional investors.

Pactiv Evergreen Stock Performance

Shares of PTVE stock opened at $17.83 on Friday. Pactiv Evergreen has a 12-month low of $8.83 and a 12-month high of $17.86. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. The firm’s 50 day moving average is $17.65 and its 200 day moving average is $14.22. The stock has a market capitalization of $3.20 billion, a P/E ratio of -19.38, a P/E/G ratio of 1.47 and a beta of 1.24.

Pactiv Evergreen Company Profile

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.