StockNews.com Upgrades Sealed Air (NYSE:SEE) to Buy

Sealed Air (NYSE:SEE) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other equities research analysts have also weighed in on the company. Wells Fargo & Company boosted their target price on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and lowered their price objective for the company from $47.00 to $35.00 in a research report on Friday, August 9th. JPMorgan Chase & Co. cut their target price on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target for the company in a report on Thursday, October 17th. Finally, Truist Financial cut their price target on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sealed Air currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Price Performance

Shares of Sealed Air stock opened at $35.90 on Friday. Sealed Air has a 12 month low of $30.87 and a 12 month high of $41.14. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The business’s 50-day moving average price is $35.69 and its 200-day moving average price is $35.86. The firm has a market capitalization of $5.23 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 4.91 and a beta of 1.34.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Sell-side analysts forecast that Sealed Air will post 3.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SEE. Pacer Advisors Inc. bought a new stake in Sealed Air during the third quarter worth about $139,800,000. Swedbank AB purchased a new position in shares of Sealed Air during the third quarter valued at approximately $53,681,000. Millennium Management LLC boosted its position in shares of Sealed Air by 38.2% in the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after purchasing an additional 1,136,985 shares in the last quarter. Appian Way Asset Management LP purchased a new stake in shares of Sealed Air in the 1st quarter worth approximately $29,877,000. Finally, Vanguard Group Inc. increased its position in Sealed Air by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock valued at $621,380,000 after buying an additional 600,146 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Company Profile

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.