Sealed Air (NYSE:SEE – Get Rating) had its price objective dropped by equities research analysts at Truist Financial from $73.00 to $62.00 in a report released on Thursday, The Fly reports. The firm currently has a "buy" rating on the industrial products company's stock. Truist Financial's target price points to a potential upside of 39.29% from the company's current price.
SEE has been the subject of several other research reports. JPMorgan Chase & Co. upgraded shares of Sealed Air from an "underweight" rating to a "neutral" rating and lowered their target price for the company from $62.00 to $58.00 in a research note on Tuesday, August 30th. Robert W. Baird lowered their target price on shares of Sealed Air to $67.00 in a research note on Tuesday, August 9th. Morgan Stanley lowered their target price on shares of Sealed Air from $79.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, August 4th. Wells Fargo & Company lowered their price target on shares of Sealed Air from $62.00 to $56.00 and set an "equal weight" rating for the company in a research report on Friday, September 16th. Finally, Credit Suisse Group lowered shares of Sealed Air from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $80.00 to $64.00 in a research report on Wednesday, July 20th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Sealed Air currently has an average rating of "Hold" and a consensus price target of $67.67.
Get Sealed Air alerts:Sealed Air Trading Up 0.2 %
NYSE SEE opened at $44.51 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.72 and a debt-to-equity ratio of 18.30. The company's fifty day simple moving average is $54.04 and its 200-day simple moving average is $59.80. The stock has a market cap of $6.46 billion, a P/E ratio of 12.10, a PEG ratio of 1.77 and a beta of 1.17. Sealed Air has a 52 week low of $43.62 and a 52 week high of $70.72.
Sealed Air (NYSE:SEE – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. Sealed Air had a net margin of 9.56% and a return on equity of 320.73%. The business's revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 earnings per share. Equities research analysts predict that Sealed Air will post 4.15 EPS for the current fiscal year.Insider Buying and Selling at Sealed Air
In other news, CEO Edward L. Doheny II acquired 4,500 shares of Sealed Air stock in a transaction on Wednesday, August 3rd. The stock was bought at an average cost of $56.95 per share, with a total value of $256,275.00. Following the completion of the purchase, the chief executive officer now owns 515,254 shares of the company's stock, valued at $29,343,715.30. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Edward L. Doheny II acquired 4,500 shares of the company's stock in a transaction that occurred on Wednesday, August 3rd. The shares were purchased at an average price of $56.95 per share, for a total transaction of $256,275.00. Following the completion of the acquisition, the chief executive officer now owns 515,254 shares of the company's stock, valued at approximately $29,343,715.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sergio A. Pupkin acquired 1,000 shares of the company's stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average price of $57.66 per share, for a total transaction of $57,660.00. Following the acquisition, the senior vice president now directly owns 45,748 shares of the company's stock, valued at approximately $2,637,829.68. The disclosure for this purchase can be found here. In the last three months, insiders acquired 7,000 shares of company stock valued at $395,640. 0.44% of the stock is owned by insiders.
Institutional Investors Weigh In On Sealed Air
Hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Sealed Air by 8.8% in the first quarter. BlackRock Inc. now owns 20,006,898 shares of the industrial products company's stock worth $1,339,661,000 after purchasing an additional 1,613,020 shares during the period. Vanguard Group Inc. lifted its position in Sealed Air by 0.9% in the first quarter. Vanguard Group Inc. now owns 16,464,222 shares of the industrial products company's stock worth $1,102,444,000 after purchasing an additional 148,634 shares during the period. Kensico Capital Management Corp lifted its position in Sealed Air by 33.8% in the fourth quarter. Kensico Capital Management Corp now owns 4,193,157 shares of the industrial products company's stock worth $282,912,000 after purchasing an additional 1,058,900 shares during the period. Bank of America Corp DE lifted its position in Sealed Air by 13.0% in the first quarter. Bank of America Corp DE now owns 3,635,752 shares of the industrial products company's stock worth $243,450,000 after purchasing an additional 417,485 shares during the period. Finally, Invesco Ltd. lifted its position in Sealed Air by 8.1% in the first quarter. Invesco Ltd. now owns 1,864,897 shares of the industrial products company's stock worth $124,874,000 after purchasing an additional 140,270 shares during the period. 82.41% of the stock is owned by institutional investors.
About Sealed Air
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Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.
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