Sealed Air (NYSE:SEE) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Wednesday.
Several other equities research analysts also recently weighed in on the stock. Citigroup lowered their target price on shares of Sealed Air from $42.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 2nd. UBS Group set a $45.00 target price on shares of Sealed Air and gave the company a “buy” rating in a research note on Friday, November 2nd. Barclays lowered their target price on shares of Sealed Air from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, October 22nd. Robert W. Baird lowered their target price on shares of Sealed Air from $55.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 18th. Finally, Bank of America downgraded shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $40.00 target price for the company. in a research note on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $45.55.
NYSE SEE opened at $35.35 on Wednesday. Sealed Air has a 52-week low of $30.22 and a 52-week high of $49.94. The company has a market cap of $5.35 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.20 and a beta of 1.24.
Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, November 1st. The industrial products company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. Sealed Air had a negative net margin of 0.87% and a negative return on equity of 150.20%. Sealed Air’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. On average, analysts predict that Sealed Air will post 2.43 EPS for the current year.
In related news, Director Jerry R. Whitaker purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was acquired at an average price of $39.81 per share, with a total value of $39,810.00. Following the completion of the acquisition, the director now owns 8,021 shares in the company, valued at approximately $319,316.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Edward L. Doheny II purchased 5,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was bought at an average cost of $39.65 per share, with a total value of $198,250.00. Following the acquisition, the insider now owns 78,145 shares of the company’s stock, valued at approximately $3,098,449.25. The disclosure for this purchase can be found here. Company insiders own 0.63% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SEE. Cerebellum GP LLC purchased a new position in shares of Sealed Air in the third quarter worth $180,000. Ridgewood Investments LLC purchased a new position in shares of Sealed Air in the third quarter worth $202,000. First Mercantile Trust Co. purchased a new position in shares of Sealed Air in the third quarter worth $202,000. Signition LP purchased a new position in shares of Sealed Air in the second quarter worth $204,000. Finally, HL Financial Services LLC purchased a new position in shares of Sealed Air in the second quarter worth $233,000. 95.60% of the stock is owned by institutional investors and hedge funds.
About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
Further Reading: Outstanding Shares
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