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

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

PTVE has been the topic of several recent 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 report on Wednesday, December 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 target price (up previously from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. UBS Group lowered shares of Pactiv Evergreen from a “buy” rating to a “neutral” rating and increased their target price for the company from $16.00 to $18.00 in a report on Friday, January 10th. Finally, Citigroup reaffirmed a “neutral” rating and set a $18.00 target price (up previously from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th.

Pactiv Evergreen Stock Performance

Pactiv Evergreen stock opened at $17.86 on Friday. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.04 and a current ratio of 1.93. Pactiv Evergreen has a fifty-two week low of $8.83 and a fifty-two week high of $17.88. The firm’s fifty day moving average price is $17.66 and its 200-day moving average price is $14.31. The stock has a market cap of $3.23 billion, a P/E ratio of -19.41, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24.

Institutional Investors Weigh In On Pactiv Evergreen

Large investors have recently added to or reduced their stakes in the company. AlphaQuest LLC grew its holdings in Pactiv Evergreen by 10,155.9% in the 4th quarter. AlphaQuest LLC now owns 3,487 shares of the company’s stock worth $61,000 after acquiring an additional 3,453 shares during the last quarter. Blue Trust Inc. grew its holdings in Pactiv Evergreen by 1,590.7% in the 4th quarter. Blue Trust Inc. now owns 7,963 shares of the company’s stock worth $139,000 after acquiring an additional 7,492 shares during the last quarter. State of Wyoming grew its holdings in Pactiv Evergreen by 109.7% in the 4th quarter. State of Wyoming now owns 9,071 shares of the company’s stock worth $158,000 after acquiring an additional 4,745 shares during the last quarter. Tidal Investments LLC bought a new stake in Pactiv Evergreen in the 4th quarter worth $177,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Pactiv Evergreen in the 4th quarter worth $180,000. Institutional investors own 22.23% of the company’s stock.

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.