Sealed Air (NYSE:SEE) Price Target Lowered to $38.00 at Morgan Stanley

Sealed Air (NYSE:SEE) had its price target dropped by stock analysts at Morgan Stanley from $39.00 to $38.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price target would indicate a potential upside of 14.29% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Mizuho dropped their target price on Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Citigroup dropped their target price on Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada dropped their target price on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Bank of America dropped their target price on Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Sealed Air Stock Up 0.6 %

Shares of SEE traded up $0.20 during mid-day trading on Monday, hitting $33.25. 315,987 shares of the company traded hands, compared to its average volume of 1,009,271. Sealed Air has a 1-year low of $30.87 and a 1-year high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The company has a market capitalization of $4.84 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. The business has a 50 day moving average of $35.28 and a 200 day moving average of $35.19.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in Sealed Air by 38.2% in the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after purchasing an additional 1,136,985 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Sealed Air in the 3rd quarter valued at $139,800,000. Geode Capital Management LLC raised its stake in Sealed Air by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,300,809 shares of the industrial products company’s stock valued at $83,542,000 after purchasing an additional 12,559 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Sealed Air by 33.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock valued at $66,475,000 after purchasing an additional 479,675 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its stake in Sealed Air by 1.4% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock valued at $64,571,000 after purchasing an additional 24,940 shares during the last quarter. 94.40% of the stock is 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.