UBS Group Lowers Sealed Air (NYSE:SEE) Price Target to $38.00

Sealed Air (NYSE:SEE) had its price target cut by UBS Group from $39.00 to $38.00 in a research report released on Wednesday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

SEE has been the topic of several other research reports. William Blair reiterated a market perform rating on shares of Sealed Air in a research note on Thursday, May 2nd. Stifel Nicolaus began coverage on shares of Sealed Air in a research report on Tuesday, July 9th. They set a buy rating and a $47.00 price objective for the company. Mizuho upgraded Sealed Air from a neutral rating to a buy rating and upped their price objective for the stock from $36.00 to $50.00 in a research note on Thursday, June 6th. Truist Financial reiterated a buy rating and set a $44.00 target price on shares of Sealed Air in a research report on Monday, June 17th. Finally, StockNews.com cut Sealed Air from a buy rating to a hold rating in a research report on Wednesday, July 3rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $43.33.

Sealed Air Price Performance

NYSE SEE opened at $35.27 on Wednesday. Sealed Air has a one year low of $28.50 and a one year high of $47.12. The stock has a 50-day moving average of $36.86 and a 200 day moving average of $35.72. 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 $5.14 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 4.31 and a beta of 1.35.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.25. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, sell-side analysts forecast that Sealed Air will post 2.86 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.27%. The ex-dividend date was Friday, June 14th. Sealed Air’s dividend payout ratio is presently 32.13%.

Hedge Funds Weigh In On Sealed Air

A number of hedge funds have recently added to or reduced their stakes in the stock. CVA Family Office LLC bought a new stake in shares of Sealed Air during the fourth quarter valued at approximately $27,000. Bruce G. Allen Investments LLC bought a new stake in Sealed Air during the 4th quarter valued at $29,000. Fidelis Capital Partners LLC purchased a new stake in shares of Sealed Air in the 1st quarter worth $31,000. Allspring Global Investments Holdings LLC bought a new position in shares of Sealed Air during the 1st quarter worth $52,000. Finally, Signaturefd LLC increased its stake in shares of Sealed Air by 43.2% during the fourth quarter. Signaturefd LLC now owns 1,531 shares of the industrial products company’s stock valued at $56,000 after buying an additional 462 shares during the period. 94.40% of the stock is currently owned by institutional investors.

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.