Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 790,013 shares traded hands during mid-day trading, an increase of 36% from the previous session's volume of 580,108 shares.The stock last traded at $18.01 and had previously closed at $17.96.
Wall Street Analysts Forecast Growth
PTVE has been the subject of several recent research reports. Jefferies Financial Group reissued a "hold" rating and issued a $18.00 price target (up previously from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. Citigroup restated a "neutral" rating and set a $18.00 price target (up from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Royal Bank of Canada reissued a "sector perform" rating and issued a $18.00 price objective (up previously from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. Finally, UBS Group lowered shares of Pactiv Evergreen from a "buy" rating to a "neutral" rating and upped their target price for the stock from $16.00 to $18.00 in a report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Pactiv Evergreen presently has a consensus rating of "Hold" and an average price target of $16.80.
Get Our Latest Research Report on PTVE
Pactiv Evergreen Price Performance
The stock has a market cap of $3.25 billion, a PE ratio of -19.58, a P/E/G ratio of 1.47 and a beta of 1.24. The business has a fifty day simple moving average of $17.84 and a two-hundred day simple moving average of $15.38. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26.
Institutional Investors Weigh In On Pactiv Evergreen
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTVE. Assenagon Asset Management S.A. boosted its holdings in shares of Pactiv Evergreen by 111.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 145,240 shares of the company's stock valued at $2,537,000 after buying an additional 76,440 shares in the last quarter. SG Americas Securities LLC bought a new stake in Pactiv Evergreen during the fourth quarter worth about $270,000. A&I Financial Services LLC bought a new stake in Pactiv Evergreen during the fourth quarter worth about $744,000. Alberta Investment Management Corp purchased a new stake in Pactiv Evergreen in the fourth quarter worth about $9,958,000. Finally, Wolverine Asset Management LLC bought a new position in shares of Pactiv Evergreen during the fourth quarter valued at approximately $1,359,000. 22.23% of the stock is owned by hedge funds and other institutional investors.
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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