Sealed Air (NYSE:SEE) Price Target Raised to $44.00

Sealed Air (NYSE:SEE) had its target price hoisted by Truist Financial from $41.00 to $44.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

SEE has been the topic of a number of other research reports. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research report on Thursday, October 17th. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada cut their price target on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.17.

Sealed Air Trading Down 1.5 %

Sealed Air stock opened at $33.71 on Monday. The firm has a market cap of $4.91 billion, a PE ratio of 12.39, a P/E/G ratio of 4.97 and a beta of 1.34. Sealed Air has a 12 month low of $30.87 and a 12 month high of $41.14. The stock’s 50 day simple moving average is $35.40 and its two-hundred day simple moving average is $35.23. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the firm posted $0.77 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. Analysts anticipate that Sealed Air will post 3.06 earnings per share for the current year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.20 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.37%. Sealed Air’s payout ratio is 29.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its position 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 buying an additional 1,422 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Sealed Air by 5.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 16,199 shares of the industrial products company’s stock worth $564,000 after acquiring an additional 788 shares during the period. Arizona State Retirement System boosted its position in shares of Sealed Air by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 40,452 shares of the industrial products company’s stock valued at $1,407,000 after acquiring an additional 758 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Sealed Air in the second quarter valued at about $372,000. Finally, Quest Partners LLC increased its position in Sealed Air by 1,062.8% during the second quarter. Quest Partners LLC now owns 17,431 shares of the industrial products company’s stock worth $606,000 after purchasing an additional 15,932 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

About Sealed Air

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.