Sealed Air Co. (NYSE:SEE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Sealed Air Co. (NYSE:SEE) has been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $43.91.

Several research analysts have recently issued reports on SEE shares. Wells Fargo & Company raised shares of Sealed Air from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $35.00 to $43.00 in a research note on Thursday, January 11th. Mizuho lowered their target price on shares of Sealed Air from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Friday. Wolfe Research initiated coverage on Sealed Air in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. Finally, Truist Financial raised Sealed Air from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $39.00 to $44.00 in a research note on Monday, April 8th.

Hedge Funds Weigh In On Sealed Air

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Sealed Air by 0.5% during the third quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company’s stock worth $553,809,000 after buying an additional 92,114 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Sealed Air by 2,549.6% during the 4th quarter. Hsbc Holdings PLC now owns 5,340,247 shares of the industrial products company’s stock worth $195,720,000 after acquiring an additional 5,138,700 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Sealed Air by 70.1% in the third quarter. Invesco Ltd. now owns 5,238,340 shares of the industrial products company’s stock valued at $172,132,000 after purchasing an additional 2,159,143 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Sealed Air in the fourth quarter worth $86,410,000. Finally, Earnest Partners LLC boosted its holdings in Sealed Air by 16.3% during the third quarter. Earnest Partners LLC now owns 2,159,920 shares of the industrial products company’s stock worth $70,975,000 after purchasing an additional 302,099 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Stock Up 1.8 %

Shares of NYSE:SEE opened at $35.79 on Tuesday. Sealed Air has a 12 month low of $28.50 and a 12 month high of $47.12. The firm has a market cap of $5.21 billion, a P/E ratio of 14.37, a P/E/G ratio of 3.86 and a beta of 1.31. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 7.49. The company’s 50-day moving average price is $34.34 and its two-hundred day moving average price is $34.44.

Sealed Air (NYSE:SEE) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.53 by $0.25. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm earned $0.74 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, research analysts forecast that Sealed Air will post 2.8 EPS for the current fiscal year.

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.24%. Sealed Air’s payout ratio is 32.13%.

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.