Sealed Air (NYSE:SEE) Upgraded by StockNews.com to Buy Rating

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

A number of other brokerages have also issued reports on SEE. Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and lowered their target price for the company from $47.00 to $35.00 in a research note on Friday, August 9th. Raymond James raised shares of 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. JPMorgan Chase & Co. lowered their target price on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Morgan Stanley assumed coverage on Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Sealed Air has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Stock Up 1.0 %

NYSE SEE opened at $35.90 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The company has a fifty day moving average of $35.69 and a two-hundred day moving average of $35.85. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 4.91 and a beta of 1.34. Sealed Air has a 52 week low of $30.87 and a 52 week high of $41.14.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.67 by $0.12. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. Sealed Air’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 earnings per share. On average, analysts predict that Sealed Air will post 3.07 earnings per share for the current year.

Sealed Air Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SEE. Family Firm Inc. acquired a new position in Sealed Air in the 2nd quarter valued at $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Sealed Air in the 2nd quarter worth $34,000. Allspring Global Investments Holdings LLC increased its stake in shares of Sealed Air by 100.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock worth $99,000 after acquiring an additional 1,422 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Sealed Air by 523.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 2,445 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sealed Air in the 2nd quarter worth $105,000. 94.40% of the stock is owned by institutional investors and hedge funds.

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.