Sealed Air (NYSE:SEE) Now Covered by Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Sealed Air (NYSE:SEE) in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm issued an equal weight rating and a $39.00 target price on the industrial products company’s stock.

Other equities analysts also recently issued reports about the stock. Truist Financial reaffirmed a buy rating and set a $44.00 price objective on shares of Sealed Air in a report on Monday, June 17th. Jefferies Financial Group cut shares of Sealed Air from a buy rating to a hold rating and reduced their target price for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Wells Fargo & Company increased their target price on shares of Sealed Air from $43.00 to $44.00 and gave the company an overweight rating in a research report on Friday, August 9th. Royal Bank of Canada cut shares of Sealed Air from an outperform rating to a sector perform rating and reduced their target price for the company from $43.00 to $40.00 in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Sealed Air from $35.00 to $33.00 and set a neutral rating for the company in a research report on Thursday, August 15th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $41.82.

Sealed Air Stock Performance

SEE opened at $34.32 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 8.84 and a beta of 1.34. Sealed Air has a 52-week low of $28.50 and a 52-week high of $41.14. The firm’s fifty day simple moving average is $35.02 and its two-hundred day simple moving average is $35.52.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.19. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. Equities analysts anticipate that Sealed Air will post 2.93 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Friday, September 13th. Sealed Air’s payout ratio is currently 32.13%.

Institutional Investors Weigh In On Sealed Air

Hedge funds and other institutional investors have recently bought and sold shares of the company. Family Firm Inc. acquired a new stake in Sealed Air during the second quarter worth about $26,000. Fidelis Capital Partners LLC acquired a new stake in shares of Sealed Air during the first quarter valued at about $31,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Sealed Air during the second quarter valued at about $34,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Sealed Air during the first quarter valued at about $52,000. Finally, Covestor Ltd increased its position in shares of Sealed Air by 651.2% during the first quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 1,400 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

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.