Sealed Air (NYSE:SEE) Given New $44.00 Price Target at Truist Financial

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

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada decreased their price objective on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Finally, Raymond James raised Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.17.

Sealed Air Trading Down 1.5 %

SEE opened at $33.71 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The firm has a market cap of $4.91 billion, a P/E ratio of 12.39, a P/E/G ratio of 4.97 and a beta of 1.34. Sealed Air has a 52 week low of $30.87 and a 52 week high of $41.14. The business has a fifty day simple moving average of $35.40 and a 200-day simple moving average of $35.23.

Sealed Air (NYSE:SEE) last released its 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. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS. On average, equities analysts expect that Sealed Air will post 3.06 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Friday, December 6th. Sealed Air’s payout ratio is currently 29.41%.

Hedge Funds Weigh In On Sealed Air

A number of hedge funds and other institutional investors have recently bought and sold shares of SEE. Empowered Funds LLC acquired a new stake in shares of Sealed Air in the 3rd quarter worth $1,497,000. Maple Rock Capital Partners Inc. grew its holdings in shares of Sealed Air by 56.6% in 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 acquiring an additional 548,493 shares during the period. Deprince Race & Zollo Inc. increased its stake in Sealed Air by 1.4% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock valued at $64,571,000 after purchasing an additional 24,940 shares in the last quarter. Commerce Bank raised its holdings in Sealed Air by 67.6% during the third quarter. Commerce Bank now owns 36,601 shares of the industrial products company’s stock worth $1,329,000 after purchasing an additional 14,766 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in Sealed Air during the second quarter worth $514,000. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

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.