Pactiv Evergreen (NASDAQ:PTVE) Given Hold Rating at Jefferies Financial Group

Pactiv Evergreen (NASDAQ:PTVE)‘s stock had its “hold” rating reissued by analysts at Jefferies Financial Group in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They presently have a $18.00 target price on the stock, up from their previous target price of $15.00. Jefferies Financial Group’s price objective would suggest a potential upside of 4.23% from the stock’s current price.

Separately, Citigroup reissued a “neutral” rating and set a $18.00 price objective (up from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Pactiv Evergreen has an average rating of “Hold” and an average target price of $15.86.

Pactiv Evergreen Price Performance

PTVE opened at $17.27 on Wednesday. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -18.77, a PEG ratio of 1.70 and a beta of 1.35. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. Pactiv Evergreen has a 12-month low of $8.83 and a 12-month high of $17.61. The business’s fifty day simple moving average is $13.32 and its 200-day simple moving average is $12.14.

Pactiv Evergreen (NASDAQ:PTVE) last issued its earnings results on Tuesday, November 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Pactiv Evergreen had a negative net margin of 3.16% and a positive return on equity of 14.41%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the business earned $0.32 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Pactiv Evergreen will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pactiv Evergreen

Several institutional investors have recently bought and sold shares of PTVE. Geode Capital Management LLC increased its position in shares of Pactiv Evergreen by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,088,854 shares of the company’s stock worth $12,535,000 after purchasing an additional 10,158 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Pactiv Evergreen by 43.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 38,833 shares of the company’s stock worth $447,000 after buying an additional 11,670 shares during the last quarter. Clearline Capital LP raised its stake in Pactiv Evergreen by 15.6% in the third quarter. Clearline Capital LP now owns 167,558 shares of the company’s stock valued at $1,929,000 after buying an additional 22,569 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Pactiv Evergreen in the third quarter valued at about $178,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Pactiv Evergreen during the third quarter worth about $215,000. 22.23% of the stock is currently owned by institutional investors and hedge funds.

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.