Pactiv Evergreen Inc. (NASDAQ:PTVE - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $18.03 and last traded at $18.01, with a volume of 5785949 shares. The stock had previously closed at $17.96.
Analysts Set New Price Targets
A number of analysts have recently issued reports on PTVE shares. Citigroup reaffirmed a "neutral" rating and issued a $18.00 price target (up from $13.00) on shares of Pactiv Evergreen in a research note on Tuesday, December 10th. UBS Group cut 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 research report on Friday, January 10th. Jefferies Financial Group reiterated a "hold" rating and issued a $18.00 price objective (up previously from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $18.00 price target (up from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $16.80.
Read Our Latest Report on Pactiv Evergreen
Pactiv Evergreen Stock Performance
The firm's fifty day moving average is $17.85 and its 200-day moving average is $15.39. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. The stock has a market capitalization of $3.25 billion, a PE ratio of -19.58, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24.
Hedge Funds Weigh In On Pactiv Evergreen
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AlphaQuest LLC increased its stake in shares of Pactiv Evergreen by 10,155.9% during the fourth quarter. AlphaQuest LLC now owns 3,487 shares of the company's stock worth $61,000 after buying an additional 3,453 shares during the period. Intech Investment Management LLC purchased a new position in Pactiv Evergreen during the third quarter worth about $132,000. Blue Trust Inc. boosted 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 valued at $139,000 after purchasing an additional 7,492 shares in the last quarter. State of Wyoming increased its position in Pactiv Evergreen by 109.7% during the 4th quarter. State of Wyoming now owns 9,071 shares of the company's stock worth $158,000 after purchasing an additional 4,745 shares during the period. Finally, Tidal Investments LLC purchased a new position in shares of Pactiv Evergreen during the 4th quarter worth approximately $177,000. 22.23% of the stock is currently owned by hedge funds and other institutional investors.
About Pactiv Evergreen
(
Get Free Report)
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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