Pactiv Evergreen (NASDAQ:PTVE) PT Raised to $12.00 at Citigroup

Pactiv Evergreen (NASDAQ:PTVEGet Rating) had its price target boosted by stock analysts at Citigroup from $11.00 to $12.00 in a report released on Friday, April 8th, The Fly reports. Citigroup’s price objective indicates a potential upside of 22.32% from the company’s current price.

Several other equities analysts have also recently commented on PTVE. Mizuho decreased their price target on shares of Pactiv Evergreen from $16.00 to $14.00 in a research report on Monday, February 28th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Pactiv Evergreen from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Finally, Zacks Investment Research cut shares of Pactiv Evergreen from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $13.88.

Shares of NASDAQ PTVE traded down $0.08 during midday trading on Friday, reaching $9.81. 200,989 shares of the stock were exchanged, compared to its average volume of 188,409. The company has a 50 day simple moving average of $9.82 and a 200 day simple moving average of $11.50. The stock has a market capitalization of $1.74 billion, a P/E ratio of 82.42 and a beta of 1.84. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.23 and a current ratio of 2.27. Pactiv Evergreen has a twelve month low of $8.71 and a twelve month high of $16.49.

Pactiv Evergreen (NASDAQ:PTVEGet Rating) last announced its quarterly earnings results on Wednesday, February 23rd. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.29. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.47 billion. Pactiv Evergreen had a net margin of 0.42% and a return on equity of 14.22%. On average, research analysts expect that Pactiv Evergreen will post 0.8 earnings per share for the current year.

In other news, Director Allen Hugli acquired 8,500 shares of the stock in a transaction that occurred on Tuesday, March 1st. The stock was purchased at an average cost of $9.23 per share, with a total value of $78,455.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Wulf acquired 10,000 shares of the stock in a transaction that occurred on Friday, April 1st. The stock was purchased at an average cost of $10.00 per share, with a total value of $100,000.00. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.

Several large investors have recently bought and sold shares of PTVE. American Century Companies Inc. boosted its position in shares of Pactiv Evergreen by 1.1% during the fourth quarter. American Century Companies Inc. now owns 5,990,941 shares of the company’s stock worth $75,965,000 after buying an additional 64,330 shares during the period. Rubric Capital Management LP boosted its position in shares of Pactiv Evergreen by 1.0% during the fourth quarter. Rubric Capital Management LP now owns 4,120,000 shares of the company’s stock worth $52,242,000 after buying an additional 39,414 shares during the period. BlackRock Inc. lifted its position in Pactiv Evergreen by 0.8% in the fourth quarter. BlackRock Inc. now owns 2,899,971 shares of the company’s stock worth $36,772,000 after purchasing an additional 23,204 shares during the period. Frontier Capital Management Co. LLC increased its position in shares of Pactiv Evergreen by 0.3% during the 1st quarter. Frontier Capital Management Co. LLC now owns 2,201,791 shares of the company’s stock valued at $22,150,000 after purchasing an additional 5,806 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Pactiv Evergreen by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 848,830 shares of the company’s stock valued at $10,763,000 after purchasing an additional 7,836 shares during the period. 22.04% of the stock is owned by institutional investors.

Pactiv Evergreen Company Profile (Get Rating)

Pactiv Evergreen Inc manufactures and distributes fresh foodservice and food merchandising products, and fresh beverage cartons in North America. It operates through three segments: Foodservice, Food Merchandising, and Beverage Merchandising. The Foodservice segment offers food containers, hot and cold cups, lids, dinnerware, tableware, service ware, and other products.

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