Bank of America Lowers Sealed Air (NYSE:SEE) Price Target to $39.00

Sealed Air (NYSE:SEE) had its price objective trimmed by Bank of America from $42.00 to $39.00 in a report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other research firms have also recently weighed in on SEE. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company lowered their price target on shares of Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday. Raymond James raised Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Thursday, October 17th. Royal Bank of Canada lowered their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Finally, Truist Financial raised their target price on shares of Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sealed Air currently has an average rating of “Moderate Buy” and an average price target of $40.17.

Sealed Air Stock Performance

Shares of SEE stock opened at $33.71 on Monday. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The company has a market cap of $4.91 billion, a P/E ratio of 12.39, a P/E/G ratio of 4.97 and a beta of 1.34. The firm has a 50-day moving average of $35.40 and a 200-day moving average of $35.23. Sealed Air has a one year low of $30.87 and a one year high of $41.14.

Sealed Air (NYSE:SEE) last released its 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. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the business posted $0.77 earnings per share. Equities research analysts forecast that Sealed Air will post 3.06 EPS for the current fiscal year.

Sealed Air Announces Dividend

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

Institutional Investors Weigh In On Sealed Air

Institutional investors and hedge funds have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Sealed Air during the 2nd quarter worth about $34,000. GAMMA Investing LLC increased its stake in shares of Sealed Air by 218.0% in the 4th quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 907 shares during the last quarter. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 1,422 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Sealed Air by 523.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock valued at $101,000 after buying an additional 2,445 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sealed Air in the second quarter valued at $105,000. Institutional investors and hedge funds own 94.40% of the company’s stock.

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.