Pactiv Evergreen Inc. (NASDAQ:PTVE) Receives $14.57 Consensus Target Price from Brokerages

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $14.57.

Several brokerages have recently weighed in on PTVE. Royal Bank of Canada decreased their target price on shares of Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. UBS Group decreased their target price on shares of Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Citigroup decreased their target price on shares of Pactiv Evergreen from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Finally, Robert W. Baird decreased their target price on shares of Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in shares of Pactiv Evergreen by 186.8% in the 2nd quarter. CWM LLC now owns 3,396 shares of the company’s stock worth $38,000 after buying an additional 2,212 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Pactiv Evergreen by 69.2% in the 2nd quarter. Federated Hermes Inc. now owns 3,605 shares of the company’s stock worth $41,000 after buying an additional 1,474 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Pactiv Evergreen in the 2nd quarter worth about $83,000. Point72 DIFC Ltd lifted its position in shares of Pactiv Evergreen by 33.2% in the 2nd quarter. Point72 DIFC Ltd now owns 7,876 shares of the company’s stock worth $89,000 after buying an additional 1,965 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Pactiv Evergreen by 164.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 7,302 shares of the company’s stock worth $105,000 after buying an additional 4,541 shares during the last quarter. 22.23% of the stock is currently owned by institutional investors.

Pactiv Evergreen Price Performance

Pactiv Evergreen stock opened at $11.44 on Monday. Pactiv Evergreen has a 52-week low of $8.30 and a 52-week high of $15.84. The firm has a fifty day moving average of $11.58 and a 200-day moving average of $12.09. The firm has a market capitalization of $2.05 billion, a P/E ratio of 27.24, a PEG ratio of 1.31 and a beta of 1.30. The company has a quick ratio of 0.93, a current ratio of 2.04 and a debt-to-equity ratio of 2.72.

Pactiv Evergreen (NASDAQ:PTVE) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). Pactiv Evergreen had a return on equity of 13.34% and a net margin of 1.49%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the company earned $0.20 EPS. Pactiv Evergreen’s revenue was up 6.9% on a year-over-year basis. As a group, analysts predict that Pactiv Evergreen will post 0.98 EPS for the current year.

About Pactiv Evergreen

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.