Citigroup Has Lowered Expectations for Sealed Air (NYSE:SEE) Stock Price

Sealed Air (NYSE:SEE) had its price objective lowered by stock analysts at Citigroup from $44.00 to $42.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target points to a potential upside of 23.64% from the company’s current price.

Several other equities analysts have also issued reports on SEE. Bank of America dropped their price target on Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday. Truist Financial increased their target price on shares of Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada decreased their price target on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. 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 note on Thursday, October 17th. Finally, StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sealed Air presently has an average rating of “Moderate Buy” and a consensus target price of $40.83.

Sealed Air Trading Up 0.7 %

Shares of Sealed Air stock traded up $0.25 during midday trading on Monday, reaching $33.97. The company had a trading volume of 1,336,213 shares, compared to its average volume of 1,000,387. The firm has a market cap of $4.95 billion, a PE ratio of 12.49, a P/E/G ratio of 4.97 and a beta of 1.34. The stock has a fifty day moving average price of $35.54 and a 200 day moving average price of $35.27. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. Sealed Air has a fifty-two week low of $30.87 and a fifty-two week high of $41.14.

Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share 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 business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm earned $0.77 earnings per share. Sealed Air’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts anticipate that Sealed Air will post 3.06 earnings per share for the current year.

Institutional Investors Weigh In On Sealed Air

Several large investors have recently made changes to their positions in SEE. Nordea Investment Management AB boosted its holdings in shares of Sealed Air by 186.1% in the 4th quarter. Nordea Investment Management AB now owns 442,857 shares of the industrial products company’s stock worth $15,031,000 after buying an additional 288,044 shares during the last quarter. GAMMA Investing LLC boosted its stake in Sealed Air by 218.0% in the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 907 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Sealed Air by 501.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 794,861 shares of the industrial products company’s stock valued at $28,853,000 after acquiring an additional 662,606 shares during the period. Tidal Investments LLC increased its stake in shares of Sealed Air by 6.7% during the 3rd quarter. Tidal Investments LLC now owns 32,519 shares of the industrial products company’s stock worth $1,180,000 after purchasing an additional 2,051 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in shares of Sealed Air by 120.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 45,829 shares of the industrial products company’s stock worth $1,645,000 after purchasing an additional 25,046 shares during the period. 94.40% of the stock is 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.