Pactiv Evergreen Inc. (NASDAQ:PTVE - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $17.88 and last traded at $17.88, with a volume of 132975 shares traded. The stock had previously closed at $17.83.
Analyst Ratings Changes
Several analysts have commented on PTVE shares. Jefferies Financial Group restated a "hold" rating and set a $18.00 price objective (up from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. UBS Group downgraded shares of Pactiv Evergreen from a "buy" rating to a "neutral" rating and boosted their target price for the company from $16.00 to $18.00 in a research report on Friday, January 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $18.00 price target (up from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Finally, Citigroup reissued a "neutral" rating and issued a $18.00 price objective (up previously from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $16.80.
Read Our Latest Research Report on Pactiv Evergreen
Pactiv Evergreen Trading Up 0.1 %
The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26. The company's 50-day moving average is $17.71 and its 200 day moving average is $14.58. The company has a market cap of $3.23 billion, a price-to-earnings ratio of -19.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24.
Hedge Funds Weigh In On Pactiv Evergreen
Several institutional investors and hedge funds have recently modified their holdings of the business. Magnetar Financial LLC acquired a new stake in Pactiv Evergreen in the fourth quarter valued at approximately $53,645,000. TIG Advisors LLC acquired a new stake in Pactiv Evergreen in the 4th quarter valued at $44,120,000. Westchester Capital Management LLC purchased a new stake in Pactiv Evergreen in the 4th quarter worth $30,149,000. Schonfeld Strategic Advisors LLC acquired a new position in Pactiv Evergreen during the fourth quarter worth $22,476,000. Finally, Hsbc Holdings PLC raised its position in Pactiv Evergreen by 7,831.6% during the fourth quarter. Hsbc Holdings PLC now owns 1,079,488 shares of the company's stock worth $18,918,000 after acquiring an additional 1,065,878 shares during the period. Hedge funds and other institutional investors 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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