Pactiv Evergreen Inc. (NASDAQ:PTVE) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Get Free Report) have been assigned a consensus recommendation of "Hold" from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation. The average 1-year target price among brokers that have covered the stock in the last year is $16.33.

A number of equities analysts have recently weighed in on the stock. Citigroup reissued a "neutral" rating and issued a $18.00 price objective (up previously from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. Jefferies Financial Group reissued a "hold" rating and issued a $18.00 price objective (up previously from $15.00) on shares of Pactiv Evergreen in a research report on Wednesday, December 18th. Royal Bank of Canada reissued a "sector perform" rating and issued a $18.00 price objective (up previously from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Finally, UBS Group lowered shares of Pactiv Evergreen from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $16.00 to $18.00 in a research report on Friday, January 10th.

Hedge Funds Weigh In On Pactiv Evergreen

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. increased its position in Pactiv Evergreen by 111.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 145,240 shares of the company's stock worth $2,537,000 after purchasing an additional 76,440 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Pactiv Evergreen during the third quarter worth approximately $2,074,000. SG Americas Securities LLC acquired a new position in Pactiv Evergreen during the fourth quarter worth approximately $270,000. Allspring Global Investments Holdings LLC increased its position 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 purchasing an additional 52,775 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Pactiv Evergreen by 70.8% during the third quarter. JPMorgan Chase & Co. now owns 484,722 shares of the company's stock worth $5,579,000 after buying an additional 200,873 shares during the period. Institutional investors and hedge funds own 22.23% of the company's stock.

Pactiv Evergreen Stock Up 0.1 %

Shares of NASDAQ PTVE 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 market capitalization 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 debt-to-equity ratio of 3.26, a current ratio of 1.93 and a quick ratio of 1.04. The firm's 50-day moving average is $17.61 and its two-hundred day moving average is $14.03.

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.

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