Bank of America Cuts Sealed Air (NYSE:SEE) Price Target to $39.00

Sealed Air (NYSE:SEE) had its price objective reduced by investment analysts at Bank of America from $42.00 to $39.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price objective would indicate a potential upside of 13.74% from the stock’s previous close.

SEE has been the topic of a number of other research reports. Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research 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 reduced 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. Royal Bank of Canada decreased their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Finally, Truist Financial boosted their price target on shares of Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Sealed Air presently has an average rating of “Moderate Buy” and an average target price of $40.92.

Sealed Air Stock Up 1.7 %

SEE traded up $0.57 on Monday, hitting $34.29. 430,277 shares of the company were exchanged, compared to its average volume of 844,301. The company has a market cap of $5.00 billion, a PE ratio of 12.61, a PEG ratio of 4.97 and a beta of 1.34. Sealed Air has a 12 month low of $30.87 and a 12 month high of $41.14. The stock’s fifty day moving average is $35.54 and its 200-day moving average is $35.27. 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 released its quarterly earnings data 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. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research analysts predict that Sealed Air will post 3.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Sealed Air

Several institutional investors have recently bought and sold shares of SEE. Quarry LP grew its stake in shares of Sealed Air by 9.2% in the 3rd quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock valued at $134,000 after buying an additional 311 shares during the period. Everence Capital Management Inc. increased its position in shares of Sealed Air by 2.8% in the 3rd quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company’s stock valued at $506,000 after purchasing an additional 380 shares during the last quarter. United Services Automobile Association increased its stake in Sealed Air by 3.5% in the second quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company’s stock valued at $401,000 after purchasing an additional 393 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Sealed Air by 3.4% in the 3rd quarter. Raymond James Trust N.A. now owns 14,016 shares of the industrial products company’s stock valued at $509,000 after purchasing an additional 466 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC increased its stake in Sealed Air by 1.3% in the second quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company’s stock valued at $1,275,000 after purchasing an additional 467 shares during the period. 94.40% of the stock is currently owned by institutional investors and hedge funds.

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.