Pactiv Evergreen Inc. (NASDAQ:PTVE) Receives $15.86 Average Target Price from Analysts

Pactiv Evergreen Inc. (NASDAQ:PTVE) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.86.

A number of research analysts have recently issued reports on the stock. Citigroup cut 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. UBS Group reduced their price objective on Pactiv Evergreen from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new position in Pactiv Evergreen in the fourth quarter valued at approximately $2,478,000. Bridgeway Capital Management LLC lifted its stake in shares of Pactiv Evergreen by 11.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,253,850 shares of the company’s stock valued at $17,190,000 after purchasing an additional 133,619 shares during the period. Edgestream Partners L.P. bought a new position in shares of Pactiv Evergreen in the 1st quarter worth $1,637,000. Jump Financial LLC acquired a new stake in shares of Pactiv Evergreen during the fourth quarter worth $615,000. Finally, Federated Hermes Inc. increased its holdings in Pactiv Evergreen by 109.7% in the fourth quarter. Federated Hermes Inc. now owns 3,476 shares of the company’s stock valued at $48,000 after purchasing an additional 1,818 shares during the last quarter. 22.23% of the stock is currently owned by institutional investors and hedge funds.

Pactiv Evergreen Price Performance

Shares of PTVE stock opened at $13.11 on Friday. The stock’s fifty day simple moving average is $12.02 and its 200 day simple moving average is $13.47. Pactiv Evergreen has a one year low of $7.41 and a one year high of $15.84. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -28.50, a P/E/G ratio of 0.87 and a beta of 1.32. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.02 and a quick ratio of 0.87.

Pactiv Evergreen (NASDAQ:PTVE) last issued its earnings results on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.29 billion. Pactiv Evergreen had a negative net margin of 1.50% and a positive return on equity of 13.79%. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 EPS. On average, analysts expect that Pactiv Evergreen will post 1.18 earnings per share for the current fiscal year.

Pactiv Evergreen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.05%. The ex-dividend date was Friday, May 31st. Pactiv Evergreen’s dividend payout ratio is -86.96%.

Pactiv Evergreen Company Profile

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.