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

Sealed Air (NYSE:SEE) had its price objective reduced by investment analysts at Citigroup from $44.00 to $42.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective indicates a potential upside of 22.81% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Truist Financial increased their price objective on shares of Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday. Bank of America dropped their target price on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday. 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 report on Thursday, October 17th. Finally, Wells Fargo & Company dropped their price objective on shares of Sealed Air from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sealed Air presently has an average rating of “Moderate Buy” and an average price target of $40.17.

Sealed Air Stock Up 0.6 %

NYSE:SEE opened at $34.20 on Monday. The company’s 50-day simple moving average is $35.46 and its 200-day simple moving average is $35.24. 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 fifty-two week low of $30.87 and a fifty-two week high of $41.14. The stock has a market capitalization of $4.98 billion, a P/E ratio of 12.57, a P/E/G ratio of 4.97 and a beta of 1.34.

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, beating the consensus estimate of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm earned $0.77 earnings per share. Sealed Air’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts anticipate that Sealed Air will post 3.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Sealed Air during the 2nd quarter worth approximately $34,000. GAMMA Investing LLC raised its position in Sealed Air by 218.0% during 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 period. Allspring Global Investments Holdings LLC lifted its holdings in 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 purchasing an additional 1,422 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Sealed Air by 523.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 2,445 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Sealed Air in the 2nd quarter valued at about $105,000. Institutional investors and hedge funds 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.