StockNews.com Upgrades Sealed Air (NYSE:SEE) to Buy

StockNews.com upgraded shares of Sealed Air (NYSE:SEE) from a hold rating to a buy rating in a research note released on Wednesday.

A number of other equities analysts also recently issued reports on SEE. UBS Group lowered their price target on Sealed Air from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Citigroup decreased their price objective on Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company decreased their price objective on Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Mizuho decreased their price objective on Sealed Air from $45.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, Truist Financial increased their price objective on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Sealed Air Stock Performance

Shares of SEE opened at $32.32 on Wednesday. The stock has a 50 day moving average price of $34.25 and a 200 day moving average price of $34.92. 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 company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 11.88 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, March 14th. Sealed Air’s dividend payout ratio is presently 29.41%.

Institutional Investors Weigh In On Sealed Air

Several hedge funds have recently modified their holdings of SEE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Sealed Air in the fourth quarter worth $27,000. Manchester Capital Management LLC raised its position in Sealed Air by 139.4% in the fourth quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 700 shares in the last quarter. GAMMA Investing LLC raised its position in Sealed Air by 218.0% in the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 907 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Sealed Air in the fourth quarter worth $45,000. Finally, Smartleaf Asset Management LLC raised its position in Sealed Air by 148.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 913 shares in the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

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.