Pactiv Evergreen Inc. (NASDAQ:PTVE – Get Rating) has received an average recommendation of “Hold” from the nine analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $13.88.
A number of analysts recently commented on PTVE shares. Royal Bank of Canada upgraded shares of Pactiv Evergreen from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $9.00 to $13.00 in a research note on Friday, May 6th. Deutsche Bank Aktiengesellschaft lowered their price target on Pactiv Evergreen from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Citigroup increased their price objective on Pactiv Evergreen from $11.00 to $12.00 in a report on Friday, April 8th. Mizuho decreased their target price on Pactiv Evergreen from $16.00 to $14.00 in a report on Monday, February 28th. Finally, Bank of America downgraded shares of Pactiv Evergreen from a “buy” rating to a “neutral” rating and set a $13.00 price target on the stock. in a report on Thursday, April 14th.
In other Pactiv Evergreen news, insider Eric Wulf purchased 10,000 shares of Pactiv Evergreen stock in a transaction that occurred on Friday, April 1st. The stock was bought at an average price of $10.00 per share, with a total value of $100,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Allen Hugli acquired 8,500 shares of the company’s stock in a transaction on Tuesday, March 1st. The stock was acquired at an average cost of $9.23 per share, for a total transaction of $78,455.00. The disclosure for this purchase can be found here. 0.07% of the stock is owned by company insiders.
Shares of PTVE traded up $0.41 during midday trading on Tuesday, hitting $10.73. 271,398 shares of the company’s stock traded hands, compared to its average volume of 210,006. The company has a current ratio of 2.27, a quick ratio of 1.23 and a debt-to-equity ratio of 3.34. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 23.84 and a beta of 1.84. Pactiv Evergreen has a 1 year low of $8.71 and a 1 year high of $16.49. The firm’s fifty day moving average is $10.00 and its 200-day moving average is $11.29.
Pactiv Evergreen (NASDAQ:PTVE – Get Rating) last released its quarterly earnings results on Wednesday, February 23rd. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.29. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Pactiv Evergreen had a return on equity of 15.70% and a net margin of 1.40%. On average, equities research analysts anticipate that Pactiv Evergreen will post 0.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Friday, May 27th. Pactiv Evergreen’s payout ratio is presently 88.89%.
About Pactiv Evergreen (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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