Pactiv Evergreen Inc. (NASDAQ:PTVE – Get Free Report) was the recipient of a large drop in short interest in February. As of February 28th, there was short interest totalling 1,250,000 shares, a drop of 21.4% from the February 13th total of 1,590,000 shares. Currently, 3.2% of the shares of the stock are sold short. Based on an average daily volume of 1,190,000 shares, the days-to-cover ratio is presently 1.1 days.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 price objective (up previously from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Citigroup reiterated a “neutral” rating and set a $18.00 target price (up previously from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. UBS Group downgraded Pactiv Evergreen from a “buy” rating to a “neutral” rating and increased their price target for the company from $16.00 to $18.00 in a report on Friday, January 10th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $18.00 price objective (up previously from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, Pactiv Evergreen currently has an average rating of “Hold” and a consensus price target of $16.80.
View Our Latest Stock Report on PTVE
Institutional Inflows and Outflows
Pactiv Evergreen Stock Up 0.1 %
Shares of Pactiv Evergreen stock traded up $0.02 during trading on Monday, reaching $17.90. The company had a trading volume of 113,327 shares, compared to its average volume of 691,758. The company has a market cap of $3.23 billion, a price-to-earnings ratio of -19.45, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. Pactiv Evergreen has a fifty-two week low of $8.83 and a fifty-two week high of $17.90. The firm’s fifty day moving average is $17.75 and its 200-day moving average is $14.80. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.04 and a current ratio of 1.93.
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.
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