Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $17.94 and last traded at $17.94, with a volume of 1063092 shares. The stock had previously closed at $17.91.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the company. Citigroup reissued a "neutral" rating and issued a $18.00 price objective (up previously from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. UBS Group cut Pactiv Evergreen from a "buy" rating to a "neutral" rating and increased their price target for the company from $16.00 to $18.00 in a research note on Friday, January 10th. Jefferies Financial Group restated a "hold" rating and set a $18.00 price target (up previously from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $18.00 price objective (up from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $16.80.
Check Out Our Latest Research Report on Pactiv Evergreen
Pactiv Evergreen Price Performance
The stock has a 50 day moving average of $17.81 and a 200-day moving average of $15.15. 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 company has a market cap of $3.25 billion, a PE ratio of -19.53, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24.
Institutional Investors Weigh In On Pactiv Evergreen
A number of institutional investors and hedge funds have recently modified their holdings of PTVE. Intech Investment Management LLC acquired a new position in Pactiv Evergreen in the 3rd quarter worth approximately $132,000. Charles Schwab Investment Management Inc. increased its stake in shares of Pactiv Evergreen by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 982,661 shares of the company's stock worth $11,310,000 after acquiring an additional 16,029 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Pactiv Evergreen in the third quarter worth $215,000. Paloma Partners Management Co purchased a new position in shares of Pactiv Evergreen during the third quarter worth $178,000. Finally, Clearline Capital LP lifted its position in Pactiv Evergreen by 15.6% during the third quarter. Clearline Capital LP now owns 167,558 shares of the company's stock valued at $1,929,000 after purchasing an additional 22,569 shares during the period. Institutional investors and hedge funds own 22.23% of the company's stock.
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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