Sealed Air (NYSE:SEE) Price Target Cut to $42.00 by Analysts at Wells Fargo & Company

Sealed Air (NYSE:SEE) had its price target decreased by equities research analysts at Wells Fargo & Company from $44.00 to $42.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 22.95% from the stock’s previous close.

A number of other brokerages have also weighed in on SEE. Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research report on Thursday, October 17th. Royal Bank of Canada dropped their price objective on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Truist Financial raised their price objective on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday. Finally, StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.09.

Sealed Air Price Performance

NYSE:SEE traded up $0.44 on Monday, reaching $34.16. 120,449 shares of the company’s stock traded hands, compared to its average volume of 737,536. The stock has a 50-day simple moving average of $35.54 and a 200-day simple moving average of $35.27. Sealed Air has a 12 month low of $30.87 and a 12 month high of $41.14. The firm has a market cap of $4.98 billion, a PE ratio of 12.56, a P/E/G ratio of 4.97 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62.

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

Institutional Investors Weigh In On Sealed Air

A number of hedge funds have recently made changes to their positions in SEE. Strategic Investment Solutions Inc. IL purchased a new position in shares of Sealed Air in the 2nd quarter worth approximately $34,000. GAMMA Investing LLC raised its position 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 valued at $45,000 after purchasing an additional 907 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Sealed Air by 100.8% during the 2nd 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. grew its holdings in shares of Sealed Air by 523.6% during the second 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 last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sealed Air in the 2nd quarter valued at $105,000. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

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.