StockNews.com Upgrades Sealed Air (NYSE:SEE) to Buy

StockNews.com upgraded shares of Sealed Air (NYSE:SEE – Get Rating) from a hold rating to a buy rating in a report published on Tuesday morning.

A number of other research firms have also recently weighed in on SEE. Citigroup lifted their target price on shares of Sealed Air from $51.00 to $52.00 and gave the company a neutral rating in a research note on Monday, February 13th. Truist Financial downgraded shares of Sealed Air from a buy rating to a hold rating and set a $59.00 price target on the stock. in a report on Thursday, January 5th. Wells Fargo & Company lifted their price target on shares of Sealed Air from $43.00 to $53.00 and gave the company an equal weight rating in a report on Monday, January 9th. Mizuho reduced their price target on shares of Sealed Air from $61.00 to $57.00 and set a neutral rating on the stock in a report on Friday, February 10th. Finally, UBS Group downgraded shares of Sealed Air from a buy rating to a neutral rating and reduced their price target for the company from $65.00 to $59.00 in a report on Tuesday, January 24th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $57.82.

Sealed Air Stock Up 0.8 %

SEE opened at $45.32 on Tuesday. The company has a debt-to-equity ratio of 9.41, a quick ratio of 0.60 and a current ratio of 1.02. Sealed Air has a fifty-two week low of $41.24 and a fifty-two week high of $70.72. The firm’s fifty day moving average is $51.32 and its 200 day moving average is $50.00. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 3.94 and a beta of 1.24.

Sealed Air (NYSE:SEE – Get Rating) last released its earnings results on Thursday, February 9th. The industrial products company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Sealed Air had a net margin of 8.71% and a return on equity of 254.05%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the company earned $1.12 EPS. Sealed Air’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, sell-side analysts forecast that Sealed Air will post 3.65 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, March 24th. Investors of record on Friday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, March 9th. This represents a $0.80 annualized dividend and a yield of 1.77%. Sealed Air’s payout ratio is 23.95%.

Hedge Funds Weigh In On Sealed Air

Hedge funds have recently added to or reduced their stakes in the company. Compass Wealth Management LLC bought a new position in Sealed Air during the 4th quarter valued at about $25,000. Ronald Blue Trust Inc. bought a new position in Sealed Air during the 2nd quarter valued at about $42,000. Whittier Trust Co. grew its holdings in Sealed Air by 54.2% during the 4th quarter. Whittier Trust Co. now owns 666 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 234 shares during the last quarter. Sandy Spring Bank bought a new position in Sealed Air during the 4th quarter valued at about $42,000. Finally, Zions Bancorporation N.A. grew its holdings in Sealed Air by 334.1% during the 1st quarter. Zions Bancorporation N.A. now owns 981 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 755 shares during the last quarter. 89.63% of the stock is currently owned by institutional investors.

About Sealed Air

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Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment services perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.