Sealed Air (NYSE:SEE) Price Target Lowered to $42.00 at Wells Fargo & Company

Sealed Air (NYSE:SEE) had its price objective cut by Wells Fargo & Company from $44.00 to $42.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research report on Thursday, October 17th. Truist Financial raised their target price on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada dropped their price target on 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. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Sealed Air has an average rating of “Moderate Buy” and an average target price of $40.83.

Sealed Air Stock Performance

NYSE SEE opened at $33.97 on Monday. The company has a market capitalization of $4.95 billion, a P/E ratio of 12.49, a P/E/G ratio of 4.97 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. Sealed Air has a 52-week low of $30.87 and a 52-week high of $41.14. The company has a fifty day moving average of $35.49 and a 200-day moving average of $35.26.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.12. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the business earned $0.77 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Sealed Air will post 3.06 EPS for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.36%. The ex-dividend date was Friday, December 6th. Sealed Air’s payout ratio is currently 29.41%.

Hedge Funds Weigh In On Sealed Air

A number of institutional investors and hedge funds have recently made changes to their positions in SEE. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Sealed Air in the 2nd quarter worth approximately $34,000. GAMMA Investing LLC grew its stake in shares of Sealed Air by 218.0% in the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 907 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Sealed Air by 100.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 1,422 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in 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 purchasing an additional 2,445 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Sealed Air in the 2nd quarter worth about $105,000. Institutional investors own 94.40% of the company’s stock.

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.