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

Pactiv Evergreen Inc. (NASDAQ:PTVE) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $14.57.

Several analysts have commented on PTVE shares. Robert W. Baird dropped 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 report on Friday, August 2nd. Royal Bank of Canada dropped 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 report on Wednesday, August 7th. Citigroup dropped 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 report on Monday, July 8th. Finally, UBS Group dropped 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 report on Thursday, August 8th.

Pactiv Evergreen Price Performance

NASDAQ:PTVE opened at $10.91 on Friday. The stock’s fifty day moving average price is $11.43 and its two-hundred day moving average price is $12.65. Pactiv Evergreen has a 52-week low of $7.58 and a 52-week high of $15.84. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.93 and a current ratio of 2.04. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -23.72, a P/E/G ratio of 1.15 and a beta of 1.31.

Pactiv Evergreen (NASDAQ:PTVE) last issued its earnings results on Wednesday, July 31st. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06). The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.36 billion. Pactiv Evergreen had a net margin of 1.49% and a return on equity of 13.34%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 EPS. On average, analysts anticipate that Pactiv Evergreen will post 0.98 EPS for the current year.

Pactiv Evergreen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Friday, August 30th. Pactiv Evergreen’s dividend payout ratio is currently -86.96%.

Institutional Trading of Pactiv Evergreen

Large investors have recently made changes to their positions in the company. Bridgeway Capital Management LLC increased its position 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 buying an additional 133,619 shares in the last quarter. Vanguard Group Inc. boosted its stake in Pactiv Evergreen by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,788,918 shares of the company’s stock worth $54,257,000 after purchasing an additional 143,776 shares during the period. Edgestream Partners L.P. acquired a new position in Pactiv Evergreen in the 1st quarter worth $1,637,000. Assenagon Asset Management S.A. boosted its stake in Pactiv Evergreen by 9.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 352,974 shares of the company’s stock worth $3,996,000 after purchasing an additional 31,221 shares during the period. Finally, Jump Financial LLC acquired a new position in Pactiv Evergreen in the 4th quarter worth $615,000. Institutional investors own 22.23% of the company’s stock.

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.