Wells Fargo & Company Cuts Sealed Air (NYSE:SEE) Price Target to $42.00

Sealed Air (NYSE:SEE) had its target price lowered by Wells Fargo & Company from $44.00 to $42.00 in a report released on Monday,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Other equities analysts also recently issued reports about the company. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Thursday, October 17th. Royal Bank of Canada decreased 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 report on Thursday, October 17th. Finally, Truist Financial boosted 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. Seven research 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 stock. According to MarketBeat, Sealed Air currently has an average rating of “Moderate Buy” and a consensus target price of $40.17.

Sealed Air Stock Down 1.5 %

NYSE:SEE opened at $33.71 on Monday. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The stock has a 50 day moving average of $35.40 and a 200-day moving average of $35.23. The firm has a market capitalization of $4.91 billion, a PE ratio of 12.39, a price-to-earnings-growth 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.

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

Sealed Air Announces Dividend

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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Friday, December 6th. Sealed Air’s dividend payout ratio is presently 29.41%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SEE. Empowered Funds LLC acquired a new position in Sealed Air in the 3rd quarter worth approximately $1,497,000. Maple Rock Capital Partners Inc. boosted its position in shares of Sealed Air by 56.6% in the third 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 period. Deprince Race & Zollo Inc. grew its holdings in shares of Sealed Air by 1.4% during the second quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock valued at $64,571,000 after buying an additional 24,940 shares in the last quarter. Commerce Bank raised its position in Sealed Air by 67.6% during the third 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 Sealed Air in the 2nd quarter worth about $514,000. 94.40% of the stock is owned by hedge funds and other 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.