Sealed Air (NYSE:SEE) Price Target Lowered to $42.00 at Citigroup

Sealed Air (NYSE:SEE) had its price target lowered by Citigroup from $44.00 to $42.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other research firms have also recently weighed in on SEE. Truist Financial raised their price target on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research note on Thursday, October 17th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company reduced their price objective on shares of Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Bank of America dropped their target price on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.83.

Sealed Air Stock Performance

Shares of SEE opened at $33.97 on Monday. Sealed Air has a 1 year low of $30.87 and a 1 year high of $41.14. The stock has a market capitalization of $4.95 billion, a PE ratio of 12.49, a PEG ratio of 4.97 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The stock has a 50-day simple moving average of $35.49 and a 200-day simple moving average of $35.26.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts predict that Sealed Air will post 3.06 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

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

Institutional Trading of Sealed Air

Hedge funds have recently made changes to their positions in the company. Empowered Funds LLC acquired a new position in shares of Sealed Air during the third quarter worth about $1,497,000. Maple Rock Capital Partners Inc. increased its position in Sealed Air by 56.6% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock worth $55,085,000 after purchasing an additional 548,493 shares during the period. Deprince Race & Zollo Inc. raised its stake in shares of Sealed Air by 1.4% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock worth $64,571,000 after buying an additional 24,940 shares in the last quarter. Commerce Bank lifted its holdings in shares of Sealed Air by 67.6% in the 3rd quarter. Commerce Bank now owns 36,601 shares of the industrial products company’s stock valued at $1,329,000 after buying an additional 14,766 shares during the period. Finally, MQS Management LLC purchased a new stake in shares of Sealed Air in the second quarter valued at approximately $514,000. Institutional investors and hedge funds 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.