Sealed Air (NYSE:SEE) Price Target Cut to $38.00

Sealed Air (NYSE:SEEFree Report) had its price objective cut by Wells Fargo & Company from $44.00 to $38.00 in a report released on Monday morning, MarketBeat Ratings reports. They currently have an equal weight rating on the industrial products company’s stock.

SEE has been the subject of a number of other research reports. Mizuho reduced their price target on Sealed Air from $49.00 to $46.00 in a report on Thursday, August 10th. Truist Financial reduced their target price on Sealed Air from $48.00 to $43.00 and set a hold rating for the company in a report on Friday, August 11th. StockNews.com assumed coverage on Sealed Air in a report on Thursday, August 17th. They set a hold rating for the company. Bank of America raised Sealed Air from a neutral rating to a buy rating and reduced their target price for the company from $61.00 to $52.00 in a report on Monday, July 10th. Finally, TheStreet cut Sealed Air from a b- rating to a c+ rating in a report on Thursday, August 24th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $44.64.

View Our Latest Analysis on SEE

Sealed Air Stock Performance

Shares of SEE stock opened at $35.41 on Monday. The stock has a market cap of $5.11 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 7.33 and a beta of 1.29. The business has a 50-day simple moving average of $39.82 and a 200-day simple moving average of $42.08. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 11.24. Sealed Air has a 52-week low of $33.45 and a 52-week high of $56.43.

Sealed Air (NYSE:SEEGet Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.12. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Sealed Air had a return on equity of 154.56% and a net margin of 7.04%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. On average, equities analysts expect that Sealed Air will post 2.86 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a $0.20 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.80 annualized dividend and a yield of 2.26%. Sealed Air’s payout ratio is 29.85%.

Insider Buying and Selling

In other Sealed Air news, CEO Edward L. Doheny II acquired 10,000 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was bought at an average cost of $33.85 per share, for a total transaction of $338,500.00. Following the completion of the transaction, the chief executive officer now owns 658,360 shares of the company’s stock, valued at approximately $22,285,486. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SEE. Farther Finance Advisors LLC lifted its stake in Sealed Air by 705.5% during the second quarter. Farther Finance Advisors LLC now owns 5,373 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 4,706 shares in the last quarter. ST Germain D J Co. Inc. acquired a new position in Sealed Air during the second quarter worth $33,000. Comerica Bank acquired a new position in Sealed Air during the second quarter worth $13,388,000. Osaic Holdings Inc. lifted its stake in Sealed Air by 13.4% during the second quarter. Osaic Holdings Inc. now owns 53,061 shares of the industrial products company’s stock worth $2,125,000 after purchasing an additional 6,259 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in Sealed Air by 20.2% during the second quarter. Orion Portfolio Solutions LLC now owns 5,418 shares of the industrial products company’s stock worth $217,000 after purchasing an additional 909 shares in the last quarter. 89.45% of the stock is currently owned by hedge funds and other institutional investors.

About Sealed Air

(Get Free Report)

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and NewZealand. 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.

Further Reading

Analyst Recommendations for Sealed Air (NYSE:SEE)

Receive News & Ratings for Sealed Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air and related companies with MarketBeat.com's FREE daily email newsletter.