Truist Financial Issues Positive Forecast for Sealed Air (NYSE:SEE) Stock Price

Sealed Air (NYSE:SEE) had its price target raised by Truist Financial from $41.00 to $44.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

SEE has been the topic of several other research reports. Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a report on Thursday, October 17th. Royal Bank of Canada dropped their price target on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Finally, StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.83.

Sealed Air Trading Up 0.7 %

Shares of SEE stock opened at $33.97 on Monday. The firm has a market capitalization of $4.95 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. Sealed Air has a 1 year low of $30.87 and a 1 year high of $41.14. The firm’s fifty day simple moving average is $35.49 and its 200 day simple moving average is $35.26. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62.

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

Sealed Air Dividend Announcement

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

Institutional Investors Weigh In On Sealed Air

A number of hedge funds have recently added to or reduced their stakes in SEE. Pacer Advisors Inc. bought a new stake in shares of Sealed Air during the third quarter valued at approximately $139,800,000. Swedbank AB acquired a new stake in shares of Sealed Air in the 3rd quarter valued at $53,681,000. Millennium Management LLC raised its position 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 worth $143,136,000 after acquiring an additional 1,136,985 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Sealed Air by 501.0% during the third quarter. JPMorgan Chase & Co. now owns 794,861 shares of the industrial products company’s stock valued at $28,853,000 after acquiring an additional 662,606 shares during the period. Finally, Maple Rock Capital Partners Inc. boosted its holdings in Sealed Air by 56.6% in the third 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. 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.