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

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

SEE has been the topic of a number of other research reports. Truist Financial boosted their price target on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company lowered their price objective 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 target price on the stock in a research report on Thursday, October 17th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.83.

Sealed Air Trading Up 0.7 %

NYSE SEE opened at $33.97 on Monday. Sealed Air has a 52 week low of $30.87 and a 52 week high of $41.14. The company has a 50 day moving average price of $35.49 and a 200 day moving average price of $35.26. 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 firm has a market cap of $4.95 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 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 firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Sealed Air will post 3.06 EPS for the current fiscal year.

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.36%. Sealed Air’s dividend payout ratio is presently 29.41%.

Hedge Funds Weigh In On Sealed Air

Several institutional investors have recently made changes to their positions in SEE. Nordea Investment Management AB boosted its holdings in Sealed Air by 186.1% during the fourth quarter. Nordea Investment Management AB now owns 442,857 shares of the industrial products company’s stock worth $15,031,000 after buying an additional 288,044 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Sealed Air by 218.0% during 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 in the last quarter. JPMorgan Chase & Co. grew its position in shares of Sealed Air by 501.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 794,861 shares of the industrial products company’s stock valued at $28,853,000 after acquiring an additional 662,606 shares during the period. Tidal Investments LLC grew its position in shares of Sealed Air by 6.7% during the 3rd quarter. Tidal Investments LLC now owns 32,519 shares of the industrial products company’s stock valued at $1,180,000 after acquiring an additional 2,051 shares during the period. Finally, Sanctuary Advisors LLC raised its holdings in Sealed Air by 120.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 45,829 shares of the industrial products company’s stock worth $1,645,000 after purchasing an additional 25,046 shares during the period. 94.40% of the stock is 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.