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

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

SEE has been the subject of several other research reports. Truist Financial upped their target price on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday. Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a report on Thursday, October 17th. Royal Bank of Canada reduced their price objective on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Finally, StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research note 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.09.

Sealed Air Price Performance

Sealed Air stock traded up $0.44 during mid-day trading on Monday, hitting $34.16. 120,449 shares of the company traded hands, compared to its average volume of 737,536. The stock has a fifty day moving average price of $35.54 and a 200-day moving average price of $35.27. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. Sealed Air has a one year low of $30.87 and a one year high of $41.14. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29.

Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities analysts predict that Sealed Air will post 3.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sealed Air

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 acquiring an additional 1,422 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in Sealed Air by 5.1% during the second 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 grew its holdings in Sealed Air by 1.9% during the second 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 during the period. Oak Thistle LLC purchased a new stake in Sealed Air in the second quarter worth about $372,000. Finally, Quest Partners LLC raised its stake in shares of Sealed Air by 1,062.8% in the second quarter. Quest Partners LLC now owns 17,431 shares of the industrial products company’s stock worth $606,000 after buying an additional 15,932 shares during the period. Hedge funds and other institutional investors own 94.40% of the company’s stock.

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.