Pactiv Evergreen Inc. (NASDAQ:PTVE) Receives Average Rating of “Moderate Buy” from Brokerages

Pactiv Evergreen Inc. (NASDAQ:PTVE) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $16.71.

PTVE has been the subject of a number of analyst reports. Citigroup increased their price target on Pactiv Evergreen from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. The Goldman Sachs Group increased their price target on Pactiv Evergreen from $12.50 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 price target on shares of Pactiv Evergreen in a research note on Monday, March 4th. Finally, Robert W. Baird raised their price objective on Pactiv Evergreen from $12.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, March 4th.

Pactiv Evergreen Price Performance

NASDAQ PTVE opened at $11.32 on Tuesday. The business’s fifty day moving average price is $12.87 and its 200-day moving average price is $13.68. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -24.61, a PEG ratio of 0.75 and a beta of 1.35. 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 has a 1-year low of $7.14 and a 1-year high of $15.84.

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

Pactiv Evergreen Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Friday, May 31st. Pactiv Evergreen’s payout ratio is -86.96%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. bought a new position in shares of Pactiv Evergreen in the 1st quarter valued at about $172,000. Bridgeway Capital Management LLC lifted its stake in Pactiv Evergreen by 3.5% in the first quarter. Bridgeway Capital Management LLC now owns 1,298,224 shares of the company’s stock worth $18,591,000 after purchasing an additional 44,374 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Pactiv Evergreen by 164.5% in the first quarter. Public Employees Retirement System of Ohio now owns 7,302 shares of the company’s stock worth $105,000 after purchasing an additional 4,541 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Pactiv Evergreen in the first quarter worth about $164,000. Finally, Truvestments Capital LLC bought a new stake in Pactiv Evergreen in the first quarter worth about $186,000. 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.