Pactiv Evergreen Inc. (NASDAQ:PTVE - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 1,595,400 shares were traded during mid-day trading, an increase of 127% from the previous session's volume of 702,592 shares.The stock last traded at $17.87 and had previously closed at $17.87.
Analyst Ratings Changes
Several equities analysts have issued reports on PTVE shares. Citigroup reaffirmed 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. Royal Bank of Canada restated a "sector perform" rating and issued a $18.00 target price (up previously from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. UBS Group lowered Pactiv Evergreen from a "buy" rating to a "neutral" rating and raised their price objective for the company from $16.00 to $18.00 in a report on Friday, January 10th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $18.00 target price (up previously from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $16.80.
Read Our Latest Research Report on PTVE
Pactiv Evergreen Stock Down 0.0 %
The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.04 and a current ratio of 1.93. The business has a 50 day simple moving average of $17.71 and a 200-day simple moving average of $14.58. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -19.42, a P/E/G ratio of 1.47 and a beta of 1.24.
Institutional Investors Weigh In On Pactiv Evergreen
Several hedge funds and other institutional investors have recently bought and sold shares of PTVE. Magnetar Financial LLC purchased a new stake in shares of Pactiv Evergreen in the 4th quarter valued at approximately $53,645,000. Dimensional Fund Advisors LP increased its stake in Pactiv Evergreen by 7.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,884,505 shares of the company's stock worth $50,392,000 after acquiring an additional 205,051 shares during the last quarter. TIG Advisors LLC purchased a new stake in Pactiv Evergreen in the fourth quarter valued at $44,120,000. Westchester Capital Management LLC purchased a new position in shares of Pactiv Evergreen during the 4th quarter worth $30,149,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Pactiv Evergreen during the 4th quarter worth about $22,476,000. 22.23% of the stock is currently owned by institutional investors and hedge funds.
Pactiv Evergreen Company Profile
(
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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