Sealed Air Corporation (SEE) Given a $50.00 Price Target at Bank of America Corporation

Bank of America Corporation set a $50.00 target price on Sealed Air Corporation (NYSE:SEE) in a research report released on Friday. The firm currently has a buy rating on the industrial products company’s stock.

SEE has been the subject of several other reports. Robert W. Baird reissued a buy rating and set a $55.00 target price on shares of Sealed Air Corporation in a research note on Friday, September 1st. BMO Capital Markets reaffirmed a hold rating and set a $47.00 price objective on shares of Sealed Air Corporation in a research report on Sunday, August 27th. Citigroup Inc. cut Sealed Air Corporation from a buy rating to a neutral rating and lowered their price objective for the stock from $52.00 to $47.00 in a research report on Thursday, September 7th. Zacks Investment Research cut Sealed Air Corporation from a hold rating to a sell rating in a research report on Tuesday. Finally, SunTrust Banks, Inc. set a $48.00 price objective on Sealed Air Corporation and gave the stock a buy rating in a research report on Sunday, September 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Sealed Air Corporation currently has a consensus rating of Hold and an average price target of $48.50.

Shares of Sealed Air Corporation (NYSE:SEE) traded up 0.93% during midday trading on Friday, hitting $44.55. The company had a trading volume of 2,389,954 shares. Sealed Air Corporation has a 12 month low of $41.22 and a 12 month high of $50.62. The company has a 50-day moving average of $43.54 and a 200 day moving average of $44.18. The firm has a market capitalization of $8.47 billion, a PE ratio of 23.02 and a beta of 1.17.

Sealed Air Corporation (NYSE:SEE) last released its earnings results on Tuesday, August 8th. The industrial products company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). Sealed Air Corporation had a return on equity of 84.32% and a net margin of 6.81%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts expect that Sealed Air Corporation will post $1.82 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Thursday, November 30th. Sealed Air Corporation’s payout ratio is currently 33.16%.

In other news, Director Lawrence R. Codey sold 3,500 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $42.91, for a total value of $150,185.00. Following the completion of the sale, the director now directly owns 38,180 shares of the company’s stock, valued at approximately $1,638,303.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.05% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. lifted its holdings in shares of Sealed Air Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 10,524 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 27 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Sealed Air Corporation by 1.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,772 shares of the industrial products company’s stock valued at $213,000 after purchasing an additional 70 shares during the last quarter. Ray Gerald L & Associates Ltd. lifted its holdings in shares of Sealed Air Corporation by 1.2% in the 2nd quarter. Ray Gerald L & Associates Ltd. now owns 9,513 shares of the industrial products company’s stock valued at $426,000 after purchasing an additional 113 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Sealed Air Corporation by 3.0% in the 1st quarter. Pacer Advisors Inc. now owns 3,979 shares of the industrial products company’s stock valued at $173,000 after purchasing an additional 116 shares during the last quarter. Finally, ING Groep NV lifted its holdings in shares of Sealed Air Corporation by 1.4% in the 2nd quarter. ING Groep NV now owns 10,022 shares of the industrial products company’s stock valued at $449,000 after purchasing an additional 137 shares during the last quarter. 92.12% of the stock is owned by institutional investors and hedge funds.

About Sealed Air Corporation

Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.

Analyst Recommendations for Sealed Air Corporation (NYSE:SEE)

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