Pactiv Evergreen Inc. [PTVE] Stock trading around $16.75 per share: What’s Next?

Pactiv Evergreen Inc. [NASDAQ: PTVE] closed the trading session at $16.75 on 12/18/20. The day’s price range saw the stock hit a low of $16.66, while the highest price level was $17.63. The company report on November 30, 2020 that Pactiv Evergreen Inc. to Participate in the Citi 2020 Basic Materials Virtual Conference.

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Pactiv Evergreen Inc. (NASDAQ:PTVE), a leading manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons, announced that John McGrath, Chief Executive Officer, and Michael Ragen, Chief Financial Officer, will participate in the Citi 2020 Basic Materials Virtual Conference on December 1st and 2nd. Management will host a fireside chat on Tuesday, December 1st, at 2:00 pm ET, which will be accessible to listeners on the Events section of the Company’s website at www.pactivevergreen.com. For further details, please contact your Citi representative.

About Pactiv Evergreen Inc. (NASDAQ:PTVE).

The stocks have a year to date performance of 53.25 percent and weekly performance of -9.46 percent. The stock has performed 8.38 percent around the most recent 30 days and changed 33.79 percent over the most recent 3-months.

If compared to the average trading volume of 760.34K shares, PTVE reached to a volume of 7248328 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Pactiv Evergreen Inc. [PTVE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PTVE shares is $17.59 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PTVE stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BMO Capital Markets have made an estimate for Pactiv Evergreen Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on December 15, 2020. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Buy. The new note on the price target was released on October 13, 2020, representing the official price target for Pactiv Evergreen Inc. stock.

The Average True Range (ATR) for Pactiv Evergreen Inc. is set at 0.92, with the Price to Sales ratio for PTVE stock in the period of the last 12 months amounting to 0.38. Price to Free Cash Flow for PTVE in the course of the last twelve months was 9.91 with Quick ratio for the last quarter at 1.80.

PTVE stock trade performance evaluation

Pactiv Evergreen Inc. [PTVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.46.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PTVE stock in for the last two-week period is set at 50.38, with the RSI for the last a single of trading hit 39.91, and the three-weeks RSI is set at 56.36 for Pactiv Evergreen Inc. [PTVE]. The present Moving Average for the last 50 days of trading for this stock 15.29, while it was recorded at 17.64 for the last single week of trading.

Pactiv Evergreen Inc. [PTVE]: An insightful look at the core fundamentals

Pactiv Evergreen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.40.

Earnings per share (EPS) analysis for Pactiv Evergreen Inc. [PTVE] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PTVE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Pactiv Evergreen Inc. go to 49.52%.

Pactiv Evergreen Inc. [PTVE]: Insider Ownership positions

There are presently around $585 million, or 20.00% of PTVE stock, in the hands of institutional investors. The top three institutional holders of PTVE stocks are: NUVEEN ASSET MANAGEMENT, LLC with ownership of 8,319,656, which is approximately New of the company’s market cap and around 77.90% of the total institutional ownership; JPMORGAN CHASE & CO, holding 6,813,421 shares of the stock with an approximate value of $114.12 million in PTVE stocks shares; and VANGUARD GROUP INC, currently with $50.7 million in PTVE stock with ownership of nearly New of the company’s market capitalization.

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64 institutional holders increased their position in Pactiv Evergreen Inc. [NASDAQ:PTVE] by around 34,934,633 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 34,934,633 shares, according to the latest SEC report filing. PTVE stock had 64 new institutional investments in for a total of 34,934,633 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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