Pactiv Evergreen Inc. (NASDAQ:PTVE) Short Interest Update

Pactiv Evergreen Inc. (NASDAQ:PTVE) was the target of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 1,590,000 shares, a growth of 48.6% from the January 31st total of 1,070,000 shares. Based on an average trading volume of 1,130,000 shares, the days-to-cover ratio is presently 1.4 days. Approximately 4.1% of the company’s shares are sold short.

Analyst Ratings Changes

PTVE has been the topic of several research analyst reports. Citigroup reaffirmed 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 Pactiv Evergreen from a “buy” rating to a “neutral” rating and raised their price target for the stock from $16.00 to $18.00 in a research report on Friday, January 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $18.00 price objective (up from $15.00) on shares of Pactiv Evergreen in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price objective (up previously from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.80.

Pactiv Evergreen Stock Performance

PTVE opened at $17.83 on Wednesday. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.93 and a quick ratio of 1.04. The company has a market capitalization of $3.22 billion, a PE ratio of -19.38, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. The business has a fifty day simple moving average of $17.68 and a 200 day simple moving average of $14.43. Pactiv Evergreen has a 1 year low of $8.83 and a 1 year high of $17.88.

Institutional Investors Weigh In On Pactiv Evergreen

Several institutional investors and hedge funds have recently bought and sold shares of the company. AlphaQuest LLC boosted its holdings in shares of Pactiv Evergreen by 10,155.9% in the 4th quarter. AlphaQuest LLC now owns 3,487 shares of the company’s stock valued at $61,000 after purchasing an additional 3,453 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Pactiv Evergreen during the 3rd quarter worth $132,000. Blue Trust Inc. boosted its stake in Pactiv Evergreen by 1,590.7% in the fourth quarter. Blue Trust Inc. now owns 7,963 shares of the company’s stock valued at $139,000 after buying an additional 7,492 shares in the last quarter. State of Wyoming grew its position in Pactiv Evergreen by 109.7% in the fourth quarter. State of Wyoming now owns 9,071 shares of the company’s stock valued at $158,000 after acquiring an additional 4,745 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in Pactiv Evergreen during the fourth quarter worth about $177,000. Institutional investors own 22.23% of the company’s stock.

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.