Bank of America Cuts Sealed Air (NYSE:SEE) Price Target to $39.00

Sealed Air (NYSE:SEE) had its target price reduced by equities research analysts at Bank of America from $42.00 to $39.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price objective indicates a potential upside of 14.04% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Royal Bank of Canada reduced their target price on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company reduced their price objective on shares of Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Truist Financial boosted their price target on shares of Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday. Finally, Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research report on Thursday, October 17th. Seven 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. According to MarketBeat, Sealed Air has a consensus rating of “Moderate Buy” and a consensus target price of $40.17.

Sealed Air Price Performance

Shares of NYSE:SEE opened at $34.20 on Monday. The firm has a market capitalization of $4.98 billion, a PE ratio of 12.57, a P/E/G ratio of 4.97 and a beta of 1.34. 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 50-day moving average price of $35.46 and a two-hundred day moving average price of $35.24. Sealed Air has a twelve month low of $30.87 and a twelve month high of $41.14.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. The business 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 revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. Equities analysts forecast that Sealed Air will post 3.06 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Pacer Advisors Inc. bought a new position in shares of Sealed Air during the 3rd quarter valued at $139,800,000. Swedbank AB purchased a new stake in Sealed Air during the third quarter valued at about $53,681,000. Millennium Management LLC grew its stake in shares of Sealed Air by 38.2% during the second quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after buying an additional 1,136,985 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Sealed Air by 501.0% in the third quarter. JPMorgan Chase & Co. now owns 794,861 shares of the industrial products company’s stock worth $28,853,000 after buying an additional 662,606 shares during the period. Finally, Maple Rock Capital Partners Inc. lifted its stake in shares of Sealed Air by 56.6% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock valued at $55,085,000 after acquiring an additional 548,493 shares during the last quarter. 94.40% of the stock is owned by hedge funds and other 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.