Sealed Air (NYSE:SEE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $49.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 8.79% from the stock’s previous close.
According to Zacks, “Sealed Air is poised to benefit from the sale of the Diversey unit, which will help it enhance focus on Food Care and Product Care divisions. Further, focus on innovations and acquisitions will also drive growth. The company is winning new customers around the world given its innovative platforms. Sealed Air’s top line will also be supported by enhanced demand for core product portfolio and accelerated growth in the global protein market along with the e-Commerce sector. For 2018, Sealed Air projects net sales of approximately $4.75-$4.80 billion and adjusted earnings per share in the range of $2.35-$2.45, a 33% increase at the midpoint. In addition, the company plans to drive profitable growth by improving productivity with its Sealed Air Operational Excellence culture in 2018. Moreover, the stock outperformed the industry over the past six months.”
A number of other equities research analysts also recently commented on the company. Citigroup reduced their target price on Sealed Air from $50.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, February 9th. BMO Capital Markets reissued a “hold” rating and issued a $50.00 target price on shares of Sealed Air in a report on Thursday, January 25th. Vertical Research downgraded Sealed Air from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. SunTrust Banks downgraded Sealed Air from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, KeyCorp reissued a “hold” rating on shares of Sealed Air in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $50.08.
Shares of NYSE SEE opened at $45.04 on Tuesday. The company has a debt-to-equity ratio of 21.21, a current ratio of 1.35 and a quick ratio of 0.99. Sealed Air has a 1-year low of $40.76 and a 1-year high of $49.94. The firm has a market cap of $7,495.05, a P/E ratio of 24.88, a P/E/G ratio of 1.64 and a beta of 1.13.
Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, February 8th. The industrial products company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Sealed Air had a return on equity of 74.28% and a net margin of 17.90%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. sell-side analysts predict that Sealed Air will post 2.42 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. SeaCrest Wealth Management LLC purchased a new position in shares of Sealed Air in the fourth quarter valued at $171,000. Compton Capital Management Inc. RI purchased a new position in shares of Sealed Air in the fourth quarter valued at $205,000. Zeke Capital Advisors LLC purchased a new position in shares of Sealed Air in the fourth quarter valued at $205,000. Beck Mack & Oliver LLC purchased a new position in shares of Sealed Air in the fourth quarter valued at $207,000. Finally, King Luther Capital Management Corp purchased a new position in shares of Sealed Air in the fourth quarter valued at $211,000. Institutional investors and hedge funds own 98.33% of the company’s stock.
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About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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