Sealed Air (NYSE:SEE – Get Rating) had its price target cut by Truist Financial from $73.00 to $62.00 in a research report sent to investors on Thursday morning, The Fly reports. They currently have a buy rating on the industrial products company's stock.
A number of other equities research analysts also recently weighed in on SEE. Mizuho dropped their price target on shares of Sealed Air from $72.00 to $68.00 and set a neutral rating for the company in a research note on Wednesday, August 3rd. Robert W. Baird dropped their price target on shares of Sealed Air to $67.00 in a research note on Tuesday, August 9th. Credit Suisse Group downgraded shares of Sealed Air from an outperform rating to a neutral rating and dropped their price target for the stock from $80.00 to $64.00 in a research note on Wednesday, July 20th. JPMorgan Chase & Co. raised shares of Sealed Air from an underweight rating to a neutral rating and dropped their price target for the stock from $62.00 to $58.00 in a research note on Tuesday, August 30th. Finally, Royal Bank of Canada raised shares of Sealed Air from a sector perform rating to an outperform rating and boosted their price target for the stock from $66.00 to $70.00 in a research note on Wednesday, August 3rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, 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 %
Shares of NYSE SEE opened at $44.51 on Thursday. Sealed Air has a 1-year low of $43.62 and a 1-year high of $70.72. The company has a market cap of $6.46 billion, a PE ratio of 12.10, a P/E/G ratio of 1.73 and a beta of 1.17. 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 has a 50-day moving average of $54.04 and a two-hundred day moving average of $59.75.
Sealed Air (NYSE:SEE – Get Rating) last announced its earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.03. Sealed Air had a net margin of 9.56% and a return on equity of 320.73%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm posted $0.79 earnings per share. The company's revenue was up 6.7% on a year-over-year basis. As a group, equities analysts expect that Sealed Air will post 4.15 earnings per share for the current fiscal year.Sealed Air Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Thursday, September 8th. Sealed Air's dividend payout ratio (DPR) is presently 21.74%.
Insider Activity
In related news, COO Emile Z. Chammas purchased 1,000 shares of Sealed Air stock in a transaction dated Wednesday, August 31st. The stock was bought at an average price of $54.08 per share, for a total transaction of $54,080.00. Following the completion of the acquisition, the chief operating officer now directly owns 208,161 shares of the company's stock, valued at $11,257,346.88. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Emile Z. Chammas purchased 1,000 shares of Sealed Air stock in a transaction dated Wednesday, August 31st. The stock was bought at an average price of $54.08 per share, for a total transaction of $54,080.00. Following the completion of the acquisition, the chief operating officer now directly owns 208,161 shares of the company's stock, valued at $11,257,346.88. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Henry R. Keizer purchased 500 shares of Sealed Air stock in a transaction dated Friday, August 26th. The stock was bought at an average price of $55.25 per share, with a total value of $27,625.00. Following the acquisition, the director now directly owns 20,763 shares of the company's stock, valued at $1,147,155.75. The disclosure for this purchase can be found here. Insiders purchased 7,000 shares of company stock worth $395,640 over the last quarter. 0.44% of the stock is currently owned by company insiders.
Institutional Trading of Sealed Air
A number of institutional investors have recently made changes to their positions in SEE. Ellevest Inc. lifted its position in shares of Sealed Air by 269.0% in the first quarter. Ellevest Inc. now owns 369 shares of the industrial products company's stock worth $25,000 after purchasing an additional 269 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Sealed Air by 186.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 582 shares of the industrial products company's stock worth $39,000 after purchasing an additional 379 shares in the last quarter. CX Institutional bought a new stake in shares of Sealed Air in the second quarter worth $39,000. Premier Fund Managers Ltd lifted its position in shares of Sealed Air by 6.8% in the second quarter. Premier Fund Managers Ltd now owns 31,300 shares of the industrial products company's stock worth $40,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Ronald Blue Trust Inc. bought a new stake in Sealed Air during the second quarter worth $42,000. Institutional investors own 82.41% of the company's stock.
Sealed Air Company Profile
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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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