Analysts Set Sealed Air Co. (NYSE:SEE) Price Target at $42.60

Shares of Sealed Air Co. (NYSE:SEE) have earned an average recommendation of “Hold” from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $42.10.

A number of brokerages have commented on SEE. Royal Bank of Canada cut shares of Sealed Air from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $43.00 to $40.00 in a research note on Friday, July 19th. William Blair reiterated a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Wells Fargo & Company boosted their price target on Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. dropped their price objective on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Finally, StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday, August 9th.

Sealed Air Price Performance

Shares of NYSE SEE opened at $34.23 on Thursday. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. The business has a 50-day moving average of $35.43 and a 200-day moving average of $35.59. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 8.43 and a beta of 1.35. Sealed Air has a fifty-two week low of $28.50 and a fifty-two week high of $41.14.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.19. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. As a group, sell-side analysts predict that Sealed Air will post 2.91 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Friday, September 13th. Sealed Air’s dividend payout ratio is currently 32.13%.

Institutional Investors Weigh In On Sealed Air

Hedge funds and other institutional investors have recently made changes to their positions in the business. Family Firm Inc. bought a new position in Sealed Air during the 2nd quarter worth $26,000. Fidelis Capital Partners LLC acquired a new position in Sealed Air in the first quarter valued at about $31,000. Allspring Global Investments Holdings LLC bought a new stake in Sealed Air during the first quarter worth about $52,000. Signaturefd LLC grew its stake in Sealed Air by 43.2% during the fourth quarter. Signaturefd LLC now owns 1,531 shares of the industrial products company’s stock worth $56,000 after buying an additional 462 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Sealed Air by 651.2% in the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock valued at $60,000 after buying an additional 1,400 shares during the period. 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.