Citigroup Issues Pessimistic Forecast for Sealed Air (NYSE:SEE) Stock Price

Sealed Air (NYSE:SEE) had its price target decreased by equities researchers at Citigroup from $44.00 to $42.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target indicates a potential upside of 22.81% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on SEE. Truist Financial boosted their price objective on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada cut 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 lowered their price target on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Company cut their price objective on shares of Sealed Air from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sealed Air currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.17.

Sealed Air Stock Up 0.6 %

Shares of SEE opened at $34.20 on Monday. The business’s 50 day simple moving average is $35.46 and its 200-day simple moving average is $35.24. Sealed Air has a 1 year low of $30.87 and a 1 year high of $41.14. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34.

Sealed Air (NYSE:SEE) last released 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 net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business earned $0.77 earnings per share. Sealed Air’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts expect that Sealed Air will post 3.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in shares of Sealed Air by 100.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock valued at $99,000 after buying an additional 1,422 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Sealed Air by 5.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 16,199 shares of the industrial products company’s stock valued at $564,000 after purchasing an additional 788 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Sealed Air by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 40,452 shares of the industrial products company’s stock valued at $1,407,000 after purchasing an additional 758 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of Sealed Air in the 2nd quarter worth approximately $372,000. Finally, Quest Partners LLC increased its holdings in Sealed Air by 1,062.8% during the second quarter. Quest Partners LLC now owns 17,431 shares of the industrial products company’s stock valued at $606,000 after buying an additional 15,932 shares during the period. 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.