Bank of America Has Lowered Expectations for Sealed Air (NYSE:SEE) Stock Price

Sealed Air (NYSE:SEE) had its price target reduced by stock analysts at Bank of America from $42.00 to $39.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price target would suggest a potential upside of 14.04% from the company’s current price.

Other analysts have also issued research reports about the stock. 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. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research note on Thursday, October 17th. Royal Bank of Canada dropped their price target 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, Truist Financial boosted their price objective on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a report on Monday. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sealed Air has a consensus rating of “Moderate Buy” and a consensus target price of $40.17.

Sealed Air Price Performance

Shares of NYSE SEE opened at $34.20 on Monday. The company has a market capitalization of $4.98 billion, a PE ratio of 12.57, a P/E/G ratio of 4.97 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. Sealed Air has a twelve month low of $30.87 and a twelve month high of $41.14. The firm has a fifty day simple moving average of $35.46 and a 200 day simple moving average of $35.24.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, topping 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 period last year, the company posted $0.77 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts forecast that Sealed Air will post 3.06 EPS for the current year.

Hedge Funds Weigh In On Sealed Air

A number of hedge funds and other institutional investors have recently modified their holdings of SEE. Empowered Funds LLC bought a new stake in Sealed Air during the third quarter worth $1,497,000. Maple Rock Capital Partners Inc. boosted its holdings in shares of Sealed Air by 56.6% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock worth $55,085,000 after buying an additional 548,493 shares during the last quarter. Deprince Race & Zollo Inc. grew its position in Sealed Air by 1.4% during the second quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock valued at $64,571,000 after buying an additional 24,940 shares during the period. Commerce Bank grew its position in Sealed Air by 67.6% during the third quarter. Commerce Bank now owns 36,601 shares of the industrial products company’s stock valued at $1,329,000 after buying an additional 14,766 shares during the period. Finally, MQS Management LLC bought a new stake in Sealed Air in the second quarter worth about $514,000. 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.