Pactiv Evergreen (NASDAQ:PTVE) Reaches New 12-Month High - Should You Buy?

Pactiv Evergreen Inc. (NASDAQ:PTVE - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $17.90 and last traded at $17.90, with a volume of 75283 shares changing hands. The stock had previously closed at $17.88.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Royal Bank of Canada reissued a "sector perform" rating and issued a $18.00 target price (up previously from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. UBS Group downgraded Pactiv Evergreen from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $16.00 to $18.00 in a research note on Friday, January 10th. Citigroup reiterated a "neutral" rating and issued a $18.00 target price (up previously from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Finally, Jefferies Financial Group restated a "hold" rating and set a $18.00 price objective (up previously from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $16.80.

Pactiv Evergreen Trading Up 0.1 %

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 50-day simple moving average of $17.78 and a two-hundred day simple moving average of $14.93. The firm has a market capitalization of $3.24 billion, a P/E ratio of -19.48, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24.

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Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. AlphaQuest LLC raised its position in shares of Pactiv Evergreen by 10,155.9% in the 4th quarter. AlphaQuest LLC now owns 3,487 shares of the company's stock worth $61,000 after acquiring an additional 3,453 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Pactiv Evergreen in the third quarter worth about $132,000. Blue Trust Inc. boosted its stake in shares of Pactiv Evergreen by 1,590.7% in the fourth quarter. Blue Trust Inc. now owns 7,963 shares of the company's stock worth $139,000 after buying an additional 7,492 shares during the last quarter. State of Wyoming boosted its position in Pactiv Evergreen by 109.7% during the fourth quarter. State of Wyoming now owns 9,071 shares of the company's stock worth $158,000 after purchasing an additional 4,745 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in Pactiv Evergreen during the fourth quarter worth approximately $177,000. 22.23% of the stock is owned by institutional investors.

Pactiv Evergreen Company Profile

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.