Sealed Air (NYSE:SEE) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Sealed Air (NYSE:SEE) from a buy rating to a hold rating in a research note released on Monday morning.

A number of other research firms have also recently issued reports on SEE. Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target for the company in a report on Thursday, October 17th. Royal Bank of Canada reduced their target price on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Morgan Stanley began coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 target price for the company. Truist Financial reduced their target price on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and reduced their target price for the company from $47.00 to $35.00 in a research note on Friday, August 9th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Sealed Air presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Stock Up 0.0 %

SEE stock opened at $36.61 on Monday. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. Sealed Air has a 52-week low of $30.87 and a 52-week high of $41.14. The company has a 50-day moving average of $35.84 and a two-hundred day moving average of $35.79. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 5.06 and a beta of 1.34.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (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 company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Sealed Air will post 3.06 EPS for the current year.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s payout ratio is 29.41%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Family Firm Inc. bought a new position in Sealed Air in the 2nd quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL bought a new position in Sealed Air in the 2nd quarter worth approximately $34,000. Allspring Global Investments Holdings LLC raised its position in Sealed Air by 100.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 1,422 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Sealed Air by 523.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Sealed Air in the 2nd quarter worth approximately $105,000. 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.