Truist Financial Lowers Sealed Air (NYSE:SEE) Price Target to $41.00

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

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada downgraded shares of Sealed Air from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $43.00 to $40.00 in a research note on Friday, July 19th. UBS Group reduced their price target on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 17th. Jefferies Financial Group downgraded shares of Sealed Air from a “buy” rating to a “hold” rating and reduced their price target for the stock from $47.00 to $35.00 in a research report on Friday, August 9th. Stifel Nicolaus initiated coverage on Sealed Air in a research report on Tuesday, July 9th. They issued a “buy” rating and a $47.00 price objective for the company. Finally, StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.00.

Sealed Air Stock Up 1.2 %

SEE opened at $37.12 on Tuesday. Sealed Air has a fifty-two week low of $28.50 and a fifty-two week high of $41.14. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. The firm’s fifty day moving average price is $34.64 and its two-hundred day moving average price is $35.31. The company has a market capitalization of $5.41 billion, a P/E ratio of 14.97, a P/E/G ratio of 8.98 and a beta of 1.34.

Sealed Air (NYSE:SEE) last issued its earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.64 by $0.19. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company earned $0.80 EPS. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, analysts anticipate that Sealed Air will post 2.93 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is presently 32.26%.

Institutional Investors Weigh In On Sealed Air

A number of large investors have recently added to or reduced their stakes in SEE. Family Firm Inc. bought a new position in Sealed Air during the 2nd quarter worth $26,000. Fidelis Capital Partners LLC bought a new position in Sealed Air during the 1st quarter worth $31,000. Strategic Investment Solutions Inc. IL bought a new position in Sealed Air during the 2nd quarter worth $34,000. Allspring Global Investments Holdings LLC bought a new position in Sealed Air during the 1st quarter worth $52,000. Finally, Covestor Ltd increased its position in Sealed Air by 651.2% during the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock worth $60,000 after buying an additional 1,400 shares during the period. Institutional investors 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.