Sealed Air Co. (NYSE:SEE) Receives $43.33 Average Price Target from Analysts

Shares of Sealed Air Co. (NYSE:SEE) have been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $43.33.

Several research analysts recently weighed in on the company. StockNews.com downgraded Sealed Air from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada downgraded Sealed Air from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $43.00 to $40.00 in a research note on Friday, July 19th. Stifel Nicolaus assumed coverage on Sealed Air in a research note on Tuesday, July 9th. They set a “buy” rating and a $47.00 target price on the stock. Citigroup dropped their target price on Sealed Air from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Finally, Truist Financial restated a “buy” rating and set a $44.00 target price on shares of Sealed Air in a research note on Monday, June 17th.

Sealed Air Trading Up 1.7 %

Shares of NYSE:SEE opened at $36.47 on Friday. Sealed Air has a 12-month low of $28.50 and a 12-month high of $47.12. The business’s fifty day simple moving average is $36.66 and its 200-day simple moving average is $35.72. The company has a market capitalization of $5.31 billion, a PE ratio of 14.65, a P/E/G ratio of 4.39 and a beta of 1.35. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 7.49.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share (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 business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $0.74 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts predict that Sealed Air will post 2.86 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, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 2.19%. Sealed Air’s payout ratio is presently 32.13%.

Hedge Funds Weigh In On Sealed Air

Several institutional investors and hedge funds have recently modified their holdings of SEE. Hsbc Holdings PLC lifted its holdings in shares of Sealed Air by 2,549.6% in the 4th quarter. Hsbc Holdings PLC now owns 5,340,247 shares of the industrial products company’s stock valued at $195,720,000 after buying an additional 5,138,700 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Sealed Air in the 4th quarter valued at about $86,410,000. Norges Bank acquired a new position in shares of Sealed Air in the 4th quarter valued at about $52,968,000. Appian Way Asset Management LP acquired a new position in shares of Sealed Air in the 1st quarter valued at about $29,877,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Sealed Air by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock valued at $621,380,000 after buying an additional 600,146 shares during the period. Institutional investors and hedge funds own 94.40% of the company’s stock.

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.