Pactiv Evergreen's (PTVE) "Hold" Rating Reiterated at Jefferies Financial Group

Pactiv Evergreen (NASDAQ:PTVE - Get Free Report)'s stock had its "hold" rating reiterated by equities researchers at Jefferies Financial Group in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $18.00 price objective on the stock, up from their prior price objective of $15.00. Jefferies Financial Group's price objective points to a potential upside of 4.47% from the company's previous close.

Separately, Citigroup reiterated a "neutral" rating and set a $18.00 price objective (up from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $15.14.

Pactiv Evergreen Stock Down 0.6 %

Shares of PTVE traded down $0.10 during trading hours on Wednesday, reaching $17.23. The company's stock had a trading volume of 2,658,054 shares, compared to its average volume of 516,885. The company has a 50 day moving average of $13.21 and a two-hundred day moving average of $12.11. The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -18.73, a P/E/G ratio of 1.70 and a beta of 1.35. Pactiv Evergreen has a 1-year low of $8.83 and a 1-year high of $17.61.

Pactiv Evergreen (NASDAQ:PTVE - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.37 billion. Pactiv Evergreen had a negative net margin of 3.16% and a positive return on equity of 14.41%. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. As a group, research analysts predict that Pactiv Evergreen will post 1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. CWM LLC grew its holdings in Pactiv Evergreen by 186.8% during the second quarter. CWM LLC now owns 3,396 shares of the company's stock valued at $38,000 after purchasing an additional 2,212 shares during the last quarter. Federated Hermes Inc. grew its stake in Pactiv Evergreen by 69.2% in the 2nd quarter. Federated Hermes Inc. now owns 3,605 shares of the company's stock valued at $41,000 after buying an additional 1,474 shares during the last quarter. Innealta Capital LLC bought a new position in Pactiv Evergreen in the 2nd quarter worth $83,000. Point72 DIFC Ltd raised its holdings in Pactiv Evergreen by 33.2% in the 2nd quarter. Point72 DIFC Ltd now owns 7,876 shares of the company's stock worth $89,000 after acquiring an additional 1,965 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in Pactiv Evergreen during the 2nd quarter worth $114,000. 22.23% of the stock is owned by institutional investors.

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.