UBS Group Cuts Sealed Air (NYSE:SEE) Price Target to $37.00

Sealed Air (NYSE:SEE) had its target price decreased by UBS Group from $39.00 to $37.00 in a report released on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the industrial products company’s stock.

Several other brokerages also recently commented on SEE. Royal Bank of Canada cut their price target 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. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company lowered their target price 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, January 6th. Mizuho reduced their price target on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Finally, Truist Financial boosted their price objective on shares of Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Seven investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.08.

Sealed Air Stock Down 1.8 %

Shares of SEE stock opened at $33.07 on Friday. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 4.97 and a beta of 1.34. 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 company’s fifty day moving average price is $35.28 and its 200-day moving average price is $35.19. Sealed Air has a one year low of $30.87 and a one year high of $41.14.

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. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. Sell-side analysts expect that Sealed Air will post 3.06 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.42%. Sealed Air’s payout ratio is 29.41%.

Hedge Funds Weigh In On Sealed Air

Several institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its stake in 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 buying an additional 788 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Sealed Air by 1.9% in 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 acquiring an additional 758 shares in the last quarter. Choreo LLC acquired a new stake in shares of Sealed Air in the second quarter worth approximately $338,000. American Century Companies Inc. increased its position in shares of Sealed Air by 4.8% during the second quarter. American Century Companies Inc. now owns 31,877 shares of the industrial products company’s stock worth $1,109,000 after purchasing an additional 1,468 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in Sealed Air by 8.3% in the 2nd quarter. GHP Investment Advisors Inc. now owns 37,291 shares of the industrial products company’s stock valued at $1,297,000 after purchasing an additional 2,867 shares during the last quarter. 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.