Sealed Air (NYSE:SEE) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Sealed Air (NYSE:SEE) from a buy rating to a hold rating in a research report report published on Friday.

Other research analysts have also issued reports about the company. Truist Financial decreased their price objective on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Wells Fargo & Company upped their target price on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. 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 report on Thursday, October 17th. Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and cut their target price for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Finally, Royal Bank of Canada cut 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Stock Performance

Shares of NYSE SEE opened at $35.87 on Friday. 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 stock’s fifty day moving average price is $35.37 and its two-hundred day moving average price is $35.76. Sealed Air has a one year low of $30.87 and a one year high of $41.14. The firm has a market cap of $5.23 billion, a price-to-earnings 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 data on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the firm posted $0.77 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts forecast that Sealed Air will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. Sealed Air’s dividend payout ratio is currently 29.41%.

Hedge Funds Weigh In On Sealed Air

Large investors have recently bought and sold shares of the company. Family Firm Inc. bought a new position in Sealed Air in the second quarter valued at about $26,000. Strategic Investment Solutions Inc. IL bought a new position in Sealed Air in the second quarter valued at about $34,000. Allspring Global Investments Holdings LLC bought a new position in Sealed Air in the first quarter valued at about $52,000. Covestor Ltd raised its position in Sealed Air by 651.2% in the first quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Sealed Air by 523.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 2,445 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.

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.