Sealed Air (NYSE:SEE) Price Target Lowered to $56.00 at Wells Fargo & Company

Sealed Air (NYSE:SEEGet Rating) had its price target lowered by investment analysts at Wells Fargo & Company from $62.00 to $56.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 15.11% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada upgraded Sealed Air from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $66.00 to $70.00 in a research report on Wednesday, August 3rd. Credit Suisse Group cut Sealed Air from an “outperform” rating to a “neutral” rating and cut their price target for the company from $80.00 to $64.00 in a report on Wednesday, July 20th. Bank of America cut Sealed Air from a “buy” rating to a “neutral” rating and set a $67.00 price target for the company. in a report on Thursday, July 7th. Morgan Stanley cut their price target on Sealed Air from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, August 4th. Finally, Robert W. Baird cut their price target on Sealed Air to $67.00 in a report on Tuesday, August 9th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Sealed Air has a consensus rating of “Hold” and a consensus price target of $68.18.

Sealed Air Stock Performance

NYSE SEE opened at $48.65 on Friday. The company has a market cap of $7.07 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.98 and a beta of 1.17. The stock’s 50 day simple moving average is $56.32 and its 200-day simple moving average is $61.08. Sealed Air has a 1-year low of $47.89 and a 1-year high of $70.72. The company has a debt-to-equity ratio of 18.30, a current ratio of 1.34 and a quick ratio of 0.72.

Sealed Air (NYSE:SEEGet Rating) last released its earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.02. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.43 billion. Sealed Air had a return on equity of 320.73% and a net margin of 9.56%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 earnings per share. As a group, equities research analysts anticipate that Sealed Air will post 4.15 EPS for the current fiscal year.

Insider Transactions at Sealed Air

In other Sealed Air news, CEO Edward L. Doheny II purchased 4,500 shares of Sealed Air stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average price of $56.95 per share, with a total value of $256,275.00. Following the completion of the transaction, the chief executive officer now owns 515,254 shares of the company’s stock, valued at $29,343,715.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Emile Z. Chammas bought 1,000 shares of Sealed Air stock in a transaction that occurred on Wednesday, August 31st. The shares were purchased at an average price of $54.08 per share, with a total value of $54,080.00. Following the completion of the acquisition, the chief operating officer now directly owns 208,161 shares in the company, valued at $11,257,346.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Edward L. Doheny II bought 4,500 shares of Sealed Air stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average cost of $56.95 per share, for a total transaction of $256,275.00. Following the acquisition, the chief executive officer now owns 515,254 shares of the company’s stock, valued at $29,343,715.30. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 7,000 shares of company stock valued at $395,640. 0.44% of the stock is currently owned by corporate insiders.

Institutional Trading of Sealed Air

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amundi raised its holdings in Sealed Air by 4.8% during the second quarter. Amundi now owns 538,776 shares of the industrial products company’s stock worth $30,318,000 after purchasing an additional 24,518 shares in the last quarter. Columbia Asset Management purchased a new position in shares of Sealed Air during the second quarter worth approximately $364,000. Captrust Financial Advisors grew its position in shares of Sealed Air by 8.6% during the second quarter. Captrust Financial Advisors now owns 11,731 shares of the industrial products company’s stock worth $677,000 after acquiring an additional 925 shares during the last quarter. Legal & General Group Plc grew its position in shares of Sealed Air by 7.2% during the second quarter. Legal & General Group Plc now owns 604,958 shares of the industrial products company’s stock worth $34,919,000 after acquiring an additional 40,380 shares during the last quarter. Finally, ExodusPoint Capital Management LP grew its position in shares of Sealed Air by 144.9% during the second quarter. ExodusPoint Capital Management LP now owns 34,412 shares of the industrial products company’s stock worth $1,986,000 after acquiring an additional 20,363 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Sealed Air Company Profile

(Get Rating)

Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.

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