Pactiv Evergreen (NASDAQ:PTVE) Price Target Lowered to $12.00 at Robert W. Baird

Pactiv Evergreen (NASDAQ:PTVE) had its target price dropped by analysts at Robert W. Baird from $15.00 to $12.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 23.33% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. UBS Group cut their price target on shares of Pactiv Evergreen from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Citigroup cut their target price on shares of Pactiv Evergreen from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.43.

Pactiv Evergreen Trading Down 7.0 %

NASDAQ PTVE traded down $0.73 during trading hours on Friday, reaching $9.73. The company had a trading volume of 130,215 shares, compared to its average volume of 383,437. The stock has a 50-day moving average of $11.99 and a 200 day moving average of $13.42. Pactiv Evergreen has a 1-year low of $7.41 and a 1-year high of $15.84. The company has a current ratio of 2.02, a quick ratio of 0.87 and a debt-to-equity ratio of 2.69. The stock has a market capitalization of $1.74 billion, a P/E ratio of -21.15, a price-to-earnings-growth ratio of 0.83 and a beta of 1.32.

Pactiv Evergreen (NASDAQ:PTVE) last posted its earnings results on Wednesday, July 31st. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). Pactiv Evergreen had a net margin of 1.49% and a return on equity of 13.35%. The company 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. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that Pactiv Evergreen will post 1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in Pactiv Evergreen by 9.0% in the second quarter. Principal Financial Group Inc. now owns 20,856 shares of the company’s stock worth $236,000 after acquiring an additional 1,726 shares in the last quarter. Federated Hermes Inc. raised its position in Pactiv Evergreen by 109.7% in the fourth quarter. Federated Hermes Inc. now owns 3,476 shares of the company’s stock worth $48,000 after acquiring an additional 1,818 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Pactiv Evergreen in the fourth quarter worth $27,000. CWM LLC raised its position in Pactiv Evergreen by 186.8% in the second quarter. CWM LLC now owns 3,396 shares of the company’s stock worth $38,000 after acquiring an additional 2,212 shares in the last quarter. Finally, TFO Wealth Partners LLC raised its position in Pactiv Evergreen by 111,150.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,225 shares of the company’s stock worth $31,000 after acquiring an additional 2,223 shares in the last quarter. Hedge funds and other institutional investors own 22.23% of the company’s stock.

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.