Sealed Air (NYSE:SEE) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Sealed Air (NYSE:SEE) from a hold rating to a buy rating in a research note published on Friday morning.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and dropped their target price for the stock from $47.00 to $35.00 in a report on Friday, August 9th. Royal Bank of Canada lowered their target price on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Truist Financial cut their price target on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Morgan Stanley assumed coverage on Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Sealed Air has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Stock Performance

Sealed Air stock opened at $36.61 on Friday. The company has a market cap of $5.33 billion, a PE ratio of 13.46, a PEG ratio of 4.97 and a beta of 1.34. The company’s 50-day moving average is $35.74 and its two-hundred day moving average is $35.85. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air has a 1 year low of $30.87 and a 1 year high of $41.14.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.34 billion. During the same period in the previous year, the company posted $0.77 earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities analysts anticipate that Sealed Air will post 3.06 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

Institutional Trading of Sealed Air

Hedge funds and other institutional investors have recently made changes to their positions in the business. Family Firm Inc. bought a new position in Sealed Air during the second quarter worth $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Sealed Air during the 2nd quarter valued at about $34,000. Allspring Global Investments Holdings LLC increased its stake in Sealed Air by 100.8% in 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 acquiring an additional 1,422 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Sealed Air by 523.6% in 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Sealed Air during the second quarter worth $105,000. 94.40% of the stock is currently owned by institutional investors and hedge funds.

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.