Sealed Air (NYSE:SEE) Stock Rating Upgraded by Credit Suisse Group

Sealed Air (NYSE:SEE) was upgraded by stock analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research report issued on Wednesday, Marketbeat Ratings reports. The firm currently has a $47.00 price target on the industrial products company’s stock, down from their previous price target of $59.00. Credit Suisse Group’s price target suggests a potential upside of 32.73% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Sealed Air from $44.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday. Citigroup cut their price target on shares of Sealed Air from $43.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 10th. Truist Financial cut their price target on shares of Sealed Air from $48.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, August 11th. StockNews.com began coverage on shares of Sealed Air in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of Sealed Air from $42.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, August 18th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $44.64.

Sealed Air Stock Performance

Sealed Air stock opened at $35.41 on Wednesday. The company’s 50-day moving average price is $39.82 and its 200-day moving average price is $42.08. Sealed Air has a twelve month low of $33.45 and a twelve month high of $56.43. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 11.24. The company has a market cap of $5.11 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 7.33 and a beta of 1.29.

Sealed Air (NYSE:SEE) last posted its earnings results on Tuesday, August 8th. The industrial products company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. Sealed Air had a net margin of 7.04% and a return on equity of 154.56%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm posted $1.01 EPS. The business’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities research analysts forecast that Sealed Air will post 2.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sealed Air news, CEO Edward L. Doheny II purchased 10,000 shares of the stock in a transaction dated Friday, September 8th. The stock was purchased at an average price of $33.85 per share, with a total value of $338,500.00. Following the transaction, the chief executive officer now owns 658,360 shares of the company’s stock, valued at $22,285,486. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On Sealed Air

Several hedge funds have recently modified their holdings of SEE. Compass Wealth Management LLC purchased a new stake in shares of Sealed Air in the 4th quarter worth approximately $25,000. Column Capital Advisors LLC lifted its position in Sealed Air by 177.1% during the second quarter. Column Capital Advisors LLC now owns 665 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 425 shares during the last quarter. ST Germain D J Co. Inc. purchased a new stake in Sealed Air during the second quarter valued at approximately $33,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in Sealed Air by 251.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 742 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 531 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in Sealed Air during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 89.45% 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 NewZealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.