Sealed Air (NYSE:SEE) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Sealed Air (NYSE:SEE) from a hold rating to a buy rating in a report published on Friday.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company boosted their target price on shares of Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Royal Bank of Canada cut their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Truist Financial lowered their target price on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and reduced their price objective for the company from $47.00 to $35.00 in a research note on Friday, August 9th. Finally, Morgan Stanley initiated coverage on shares of Sealed Air in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 target price for the company. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Sealed Air Stock Performance

Shares of SEE stock opened at $36.61 on Friday. The stock’s fifty day simple moving average is $35.74 and its 200-day simple moving average is $35.85. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 4.97 and a beta of 1.34. Sealed Air has a 1-year low of $30.87 and a 1-year high of $41.14.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.12. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company earned $0.77 earnings per share. Sealed Air’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Sealed Air will post 3.06 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.19%. Sealed Air’s dividend payout ratio is presently 29.41%.

Institutional Investors Weigh In On Sealed Air

A number of institutional investors and hedge funds have recently modified their holdings of the company. Family Firm Inc. bought a new stake in Sealed Air in the 2nd quarter worth $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Sealed Air in the second quarter valued at approximately $34,000. Allspring Global Investments Holdings LLC grew its holdings in Sealed Air by 100.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock worth $99,000 after acquiring an additional 1,422 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Sealed Air by 523.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 2,445 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sealed Air in the second quarter valued at $105,000. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Company Profile

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety, shelf life extension, reduce food waste, automate processes, and optimize total cost for food processors in the fresh red meat, smoked and processed meats, poultry, seafood, plant-based, fluids and liquids and cheese markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps, and Optidure brands.