Pactiv Evergreen Inc. (NASDAQ:PTVE - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.85 and last traded at $17.82, with a volume of 529355 shares trading hands. The stock had previously closed at $17.82.
Analysts Set New Price Targets
PTVE has been the topic of several recent analyst reports. Citigroup reaffirmed a "neutral" rating and set a $18.00 target price (up from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $18.00 target price (up from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Jefferies Financial Group reissued a "hold" rating and issued a $18.00 price objective (up from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Finally, UBS Group lowered Pactiv Evergreen from a "buy" rating to a "neutral" rating and increased their price objective for the company from $16.00 to $18.00 in a report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $16.33.
Get Our Latest Stock Analysis on PTVE
Pactiv Evergreen Stock Up 0.1 %
The business has a fifty day moving average price of $17.61 and a two-hundred day moving average price of $14.03. 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 has a market capitalization of $3.20 billion, a price-to-earnings ratio of -19.38, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24.
Institutional Trading of Pactiv Evergreen
A number of hedge funds have recently modified their holdings of the stock. Magnetar Financial LLC purchased a new stake in shares of Pactiv Evergreen in the fourth quarter worth about $53,645,000. Dimensional Fund Advisors LP boosted its stake in shares of Pactiv Evergreen by 7.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,884,505 shares of the company's stock worth $50,392,000 after buying an additional 205,051 shares during the last quarter. TIG Advisors LLC purchased a new stake in shares of Pactiv Evergreen in the fourth quarter worth about $44,120,000. Westchester Capital Management LLC purchased a new stake in shares of Pactiv Evergreen in the fourth quarter worth about $30,149,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Pactiv Evergreen in the fourth quarter worth about $22,476,000. Hedge funds and other institutional investors own 22.23% of the company's stock.
About Pactiv Evergreen
(
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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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