Sealed Air (NYSE:SEE) Price Target Lowered to $41.00 at Truist Financial

Sealed Air (NYSE:SEE) had its target price lowered by Truist Financial from $44.00 to $41.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other equities analysts have also recently commented on the company. Wells Fargo & Company lifted their price target on Sealed Air from $43.00 to $44.00 and gave the stock an overweight rating in a research note on Friday, August 9th. StockNews.com upgraded shares of Sealed Air from a hold rating to a buy rating in a research report on Friday, August 9th. Jefferies Financial Group lowered shares of Sealed Air from a buy rating to a hold rating and dropped their target price for the stock from $47.00 to $35.00 in a report on Friday, August 9th. Royal Bank of Canada lowered Sealed Air from an outperform rating to a sector perform rating and lowered their price target for the company from $43.00 to $40.00 in a research report on Friday, July 19th. Finally, UBS Group cut their price objective on Sealed Air from $39.00 to $38.00 and set a neutral rating on the stock in a research report on Wednesday, July 17th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Sealed Air currently has a consensus rating of Hold and a consensus target price of $41.00.

Sealed Air Stock Down 1.4 %

Shares of SEE opened at $34.99 on Tuesday. The firm has a market cap of $5.10 billion, a P/E ratio of 14.11, a P/E/G ratio of 8.72 and a beta of 1.34. Sealed Air has a 1 year low of $28.50 and a 1 year high of $41.14. The stock has a 50 day simple moving average of $34.52 and a two-hundred day simple moving average of $35.30. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79.

Sealed Air (NYSE:SEE) last released its earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.64 by $0.19. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. On average, analysts forecast that Sealed Air will post 2.93 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.20 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.29%. Sealed Air’s payout ratio is 32.26%.

Institutional Investors Weigh In On Sealed Air

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Family Firm Inc. bought a new stake in shares of Sealed Air in the 2nd quarter worth approximately $26,000. Fidelis Capital Partners LLC purchased a new stake in shares of Sealed Air in the first quarter worth $31,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Sealed Air during the second quarter valued at $34,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Sealed Air in the 1st quarter worth about $52,000. Finally, Covestor Ltd boosted its stake in Sealed Air by 651.2% in the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

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.