Applying Mark Minervini’s growth stock checklist to PACTIV EVERGREEN INC (NASDAQ:PTVE)

Our stock screener has spotted PACTIV EVERGREEN INC (NASDAQ:PTVE) as a stocks which checks several boxes as specified by Mark Minervini. We will dive into an analysis below.

Checking the Minervini Trend Template.

PTVE checks all the boxes when evaluating the Minervini Trend Template. This is a set of basic technical criteria to identify stocks in strong uptrends:

• ✔ Relative Strength is above 70.
• ✔ Current price is within 25% of it's 52-week high.
• ✔ Current price is at least 30% above it's 52-week low.
• ✔ The current price is above the 50-, 150- and 200-day SMA price line.
• ✔ The SMA(200) is trending upwards.
• ✔ The SMA(150) is above the SMA(200)
• ✔ The SMA(50) is above the SMA(150) and the SMA(200)

Exploring PTVE's Growth

Every stock receives a High Growth Momentum Rating (HGM) from ChartMill, ranging from 0 to 10. This rating assesses various growth and profitability aspects, including historical and projected EPS and revenue growth. PTVE boasts a 4 out of 10:

Explosive Earnings Growth

• Accelerating EPS growth for PTVE: the current Q2Q growth of 12.5% exceeds the previous quarter Q2Q growth of -15.0%.
• The 1-year EPS growth of PTVE (1.0K%) highlights the company's ability to consistently improve its earnings performance and suggests a positive outlook for future profitability.
• The sales growth of PTVE is accelerating: the current Q2Q growth of -3.34% is above the previous quarter Q2Q growth of -6.17%. Sales momentum and acceleration are key for high growth systems.
• Sales growth accelerated for 3 quarters in a row.

Financial Strength & Profitability

• The operating margin of PTVE has seen steady growth over the past year, signaling improved profitability. This trend indicates the company's effective cost management and its ability to generate higher returns.
• The free cash flow (FCF) of PTVE has seen steady growth over the past year, indicating enhanced cash flow generation and financial health. This trend underscores the company's effective capital management and its ability to generate sustainable cash flows.

Market Strength

• PTVE has exhibited strong Relative Strength(RS) in recent periods, with a current 90.86 rating. This indicates the stock's ability to outperform the broader market and reflects its competitive position.

Looking at the Setup

ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. PTVE currently holds a 8 as its setup rating, suggesting a particular level of consolidation in the stock.

PTVE has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 17.89. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 17.85, a Stop Loss order could be placed below this zone.

Our latest full technical report of PTVE contains the most current technical analsysis.

More like this

More ideas for high growth momentum stocks can be found on ChartMill in our High Growth Momentum + Trend Template screen.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.