Pactiv Evergreen Inc. (NASDAQ:PTVE) Receives $14.57 Consensus Price Target from Analysts

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $14.57.

Several equities analysts have issued reports on the company. UBS Group cut their target price on Pactiv Evergreen from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada dropped their price target on Pactiv Evergreen from $15.00 to $13.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 7th. Citigroup dropped their price target on Pactiv Evergreen from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Monday, July 8th. Finally, Robert W. Baird dropped their price target on Pactiv Evergreen from $15.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, August 2nd.

Institutional Investors Weigh In On Pactiv Evergreen

A number of large investors have recently bought and sold shares of the company. Rubric Capital Management LP boosted its position in Pactiv Evergreen by 3.3% in the second quarter. Rubric Capital Management LP now owns 5,726,583 shares of the company's stock valued at $64,825,000 after buying an additional 185,190 shares during the last quarter. Vanguard Group Inc. boosted its position in Pactiv Evergreen by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,788,918 shares of the company's stock valued at $54,257,000 after buying an additional 143,776 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Pactiv Evergreen by 11.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,375,514 shares of the company's stock valued at $26,890,000 after buying an additional 243,098 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in Pactiv Evergreen by 3.5% in the first quarter. Bridgeway Capital Management LLC now owns 1,298,224 shares of the company's stock valued at $18,591,000 after acquiring an additional 44,374 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Pactiv Evergreen by 25.9% in the second quarter. Renaissance Technologies LLC now owns 590,600 shares of the company's stock valued at $6,686,000 after acquiring an additional 121,400 shares during the period. Hedge funds and other institutional investors own 22.23% of the company's stock.

Pactiv Evergreen Stock Up 1.3 %

PTVE traded up $0.15 on Monday, hitting $11.69. The company had a trading volume of 156,037 shares, compared to its average volume of 389,688. The stock has a fifty day moving average price of $11.57 and a 200-day moving average price of $12.12. Pactiv Evergreen has a 12-month low of $8.26 and a 12-month high of $15.84. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.93 and a current ratio of 2.04. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 1.31 and a beta of 1.30.

Pactiv Evergreen (NASDAQ:PTVE - Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). Pactiv Evergreen had a net margin of 1.49% and a return on equity of 13.34%. The company had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter last year, the firm earned $0.20 EPS. Pactiv Evergreen's revenue for the quarter was up 6.9% on a year-over-year basis. Analysts predict that Pactiv Evergreen will post 0.98 EPS for the current fiscal year.

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.