Sealed Air (NYSE:SEE) Price Target Lowered to $39.00 at Bank of America

Sealed Air (NYSE:SEE) had its target price reduced by Bank of America from $42.00 to $39.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Bank of America‘s target price points to a potential upside of 13.74% from the stock’s current price.

A number of other research firms also recently issued reports on SEE. Raymond James raised shares of 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 report on Thursday, October 17th. Truist Financial raised their price target on shares of Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company decreased their price target on Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada lowered their target price on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.92.

Sealed Air Price Performance

SEE traded up $0.57 during midday trading on Monday, reaching $34.29. 430,277 shares of the company’s stock were exchanged, compared to its average volume of 844,301. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The business’s 50-day moving average price is $35.54 and its 200 day moving average price is $35.27. 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 $5.00 billion, a PE ratio of 12.61, a P/E/G ratio of 4.97 and a beta of 1.34.

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

Institutional Investors Weigh In On Sealed Air

Large investors have recently modified their holdings of the business. Pacer Advisors Inc. acquired a new position in Sealed Air in the 3rd quarter worth $139,800,000. Swedbank AB acquired a new stake in shares of Sealed Air in the 3rd quarter valued at approximately $53,681,000. Millennium Management LLC grew its position in shares of Sealed Air by 38.2% in the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after acquiring an additional 1,136,985 shares during the period. JPMorgan Chase & Co. raised its stake in Sealed Air by 501.0% in the third quarter. JPMorgan Chase & Co. now owns 794,861 shares of the industrial products company’s stock valued at $28,853,000 after buying an additional 662,606 shares during the period. Finally, Maple Rock Capital Partners Inc. lifted its stake in shares of 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 buying an additional 548,493 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.

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.