Morgan Stanley Initiates Coverage on Sealed Air (NYSE:SEE)

Equities research analysts at Morgan Stanley started coverage on shares of Sealed Air (NYSE:SEE) in a research report issued on Wednesday, MarketBeat reports. The brokerage set an “equal weight” rating and a $39.00 price target on the industrial products company’s stock. Morgan Stanley’s target price points to a potential upside of 13.90% from the stock’s previous close.

Several other equities research analysts also recently issued reports on SEE. Royal Bank of Canada downgraded Sealed Air from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $43.00 to $40.00 in a report on Friday, July 19th. Wells Fargo & Company raised their price target on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Sealed Air in a research report on Monday, June 17th. UBS Group dropped their target price on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 17th. Finally, Mizuho raised Sealed Air from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $50.00 in a report on Thursday, June 6th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $41.82.

Sealed Air Stock Performance

NYSE SEE opened at $34.24 on Wednesday. The company has a market cap of $4.99 billion, a P/E ratio of 13.75, a PEG ratio of 8.84 and a beta of 1.34. The company has a fifty day simple moving average of $35.00 and a 200 day simple moving average of $35.51. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81. Sealed Air has a 12-month low of $28.50 and a 12-month high of $41.14.

Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.64 by $0.19. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. Sell-side analysts predict that Sealed Air will post 2.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sealed Air

A number of large investors have recently modified their holdings of SEE. Family Firm Inc. bought a new position in shares of Sealed Air in the second quarter worth $26,000. Fidelis Capital Partners LLC bought a new stake in shares of Sealed Air during the 1st quarter valued at about $31,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Sealed Air during the 2nd quarter valued at about $34,000. Allspring Global Investments Holdings LLC purchased a new stake in Sealed Air in the first quarter valued at approximately $52,000. Finally, Covestor Ltd lifted its position in Sealed Air by 651.2% during 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. 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.