UBS Group set a $45.00 price objective on Sealed Air (NYSE:SEE) in a research report released on Friday morning, www.stocktargetadvisor.com reports. The brokerage currently has a buy rating on the industrial products company’s stock.
A number of other equities analysts also recently weighed in on the stock. ValuEngine downgraded shares of Sealed Air from a hold rating to a sell rating in a research note on Wednesday, September 26th. Zacks Investment Research downgraded shares of Sealed Air from a hold rating to a sell rating in a research note on Friday, October 5th. Bank of America downgraded shares of Sealed Air from a buy rating to a neutral rating and set a $40.00 price target on the stock. in a research note on Thursday, October 18th. KeyCorp reaffirmed a hold rating on shares of Sealed Air in a research note on Thursday, August 2nd. Finally, Citigroup cut their price target on shares of Sealed Air from $47.00 to $42.00 and set a neutral rating on the stock in a research note on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $45.55.
NYSE:SEE traded down $0.23 during trading hours on Friday, reaching $33.27. 3,273,525 shares of the company were exchanged, compared to its average volume of 2,995,658. The company has a market cap of $5.28 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.59 and a beta of 1.24. Sealed Air has a 52-week low of $30.22 and a 52-week high of $49.94.
Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Sealed Air had a negative net margin of 0.87% and a negative return on equity of 150.20%. Sealed Air’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. As a group, research analysts anticipate that Sealed Air will post 2.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, December 6th. Sealed Air’s payout ratio is currently 35.36%.
In other Sealed Air news, insider Edward L. Doheny II acquired 5,000 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was bought at an average price of $39.65 per share, with a total value of $198,250.00. Following the completion of the transaction, the insider now directly owns 78,145 shares of the company’s stock, valued at $3,098,449.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jerry R. Whitaker acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was acquired at an average cost of $39.81 per share, with a total value of $39,810.00. Following the transaction, the director now directly owns 8,021 shares of the company’s stock, valued at $319,316.01. The disclosure for this purchase can be found here. Insiders bought 6,600 shares of company stock valued at $262,654 in the last three months. Company insiders own 0.63% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new stake in shares of Sealed Air in the third quarter worth $180,000. Signition LP acquired a new stake in shares of Sealed Air in the second quarter worth $204,000. Ridgewood Investments LLC acquired a new stake in shares of Sealed Air in the third quarter worth $202,000. HL Financial Services LLC acquired a new stake in shares of Sealed Air in the second quarter worth $233,000. Finally, IFM Investors Pty Ltd increased its position in shares of Sealed Air by 31.7% in the second quarter. IFM Investors Pty Ltd now owns 7,969 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 1,916 shares in the last quarter. 96.59% of the stock is owned by institutional investors.
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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