Sealed Air Co. (NYSE:SEE) Receives $43.91 Average PT from Brokerages

Sealed Air Co. (NYSE:SEE) has earned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $43.50.

A number of research firms recently weighed in on SEE. Wells Fargo & Company raised shares of Sealed Air from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $35.00 to $43.00 in a research report on Thursday, January 11th. Truist Financial upgraded Sealed Air from a “hold” rating to a “buy” rating and boosted their price objective for the company from $39.00 to $44.00 in a report on Monday, April 8th. Wolfe Research assumed coverage on Sealed Air in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. William Blair reissued a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Finally, Mizuho cut their price target on shares of Sealed Air from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd.

Sealed Air Trading Up 1.3 %

Shares of Sealed Air stock opened at $37.48 on Tuesday. Sealed Air has a fifty-two week low of $28.50 and a fifty-two week high of $47.12. The company has a debt-to-equity ratio of 7.49, a quick ratio of 0.80 and a current ratio of 1.33. The company has a market capitalization of $5.46 billion, a P/E ratio of 15.05, a P/E/G ratio of 3.86 and a beta of 1.31. The company has a fifty day moving average of $34.47 and a 200 day moving average of $34.58.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.25. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Sealed Air will post 2.8 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.13%. Sealed Air’s payout ratio is 32.13%.

Institutional Investors Weigh In On Sealed Air

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Sealed Air by 0.5% in the third quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company’s stock valued at $553,809,000 after purchasing an additional 92,114 shares during the period. Hsbc Holdings PLC lifted its position in shares of Sealed Air by 2,549.6% in the fourth quarter. Hsbc Holdings PLC now owns 5,340,247 shares of the industrial products company’s stock valued at $195,720,000 after acquiring an additional 5,138,700 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Sealed Air by 70.1% in the third quarter. Invesco Ltd. now owns 5,238,340 shares of the industrial products company’s stock worth $172,132,000 after acquiring an additional 2,159,143 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Sealed Air during the fourth quarter worth approximately $86,410,000. Finally, Earnest Partners LLC raised its stake in Sealed Air by 16.3% in the 3rd quarter. Earnest Partners LLC now owns 2,159,920 shares of the industrial products company’s stock valued at $70,975,000 after purchasing an additional 302,099 shares during the last quarter. 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.