StockNews.com Downgrades Sealed Air (NYSE:SEE) to Hold

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

A number of other analysts have also commented on the company. UBS Group dropped their price target on Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. JPMorgan Chase & Co. decreased their target price on Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Raymond James raised 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 report on Thursday, October 17th. Truist Financial decreased their target price on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada decreased their target price on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Sealed Air currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Stock Up 1.3 %

SEE stock opened at $35.87 on Friday. Sealed Air has a twelve month low of $30.87 and a twelve month high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The stock’s 50 day moving average is $35.37 and its 200-day moving average is $35.76. The firm has a market capitalization of $5.23 billion, a PE ratio of 13.19, a P/E/G ratio of 8.82 and a beta of 1.34.

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, topping analysts’ consensus estimates of $0.67 by $0.12. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. Sealed Air’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. Sell-side analysts expect that Sealed Air will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

Hedge Funds Weigh In On Sealed Air

Several hedge funds have recently made changes to their positions in SEE. Allspring Global Investments Holdings LLC purchased a new position in Sealed Air during the first quarter worth about $52,000. Commonwealth Equity Services LLC grew its position in Sealed Air by 7.5% during the first quarter. Commonwealth Equity Services LLC now owns 15,411 shares of the industrial products company’s stock worth $573,000 after buying an additional 1,079 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Sealed Air during the first quarter worth about $582,000. Janney Montgomery Scott LLC grew its position in Sealed Air by 9.3% during the first quarter. Janney Montgomery Scott LLC now owns 25,334 shares of the industrial products company’s stock worth $942,000 after buying an additional 2,156 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its position in Sealed Air by 1.2% during the first quarter. Texas Permanent School Fund Corp now owns 126,283 shares of the industrial products company’s stock worth $4,698,000 after buying an additional 1,527 shares in the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

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.