Sealed Air (NYSE:SEE) Research Coverage Started at Truist Securities

Truist Securities assumed coverage on shares of Sealed Air (NYSE:SEE) in a research note released on Tuesday morning, Price Targets.com reports. The brokerage issued a buy rating and a $72.00 price objective on the industrial products company’s stock.

Several other equities research analysts have also weighed in on the company. Robert W. Baird reaffirmed a buy rating and issued a $72.00 target price on shares of Sealed Air in a research report on Friday, September 10th. Zacks Investment Research lowered Sealed Air from a buy rating to a hold rating and set a $65.00 price target on the stock. in a report on Monday, September 6th. BMO Capital Markets raised their price target on Sealed Air from $52.00 to $62.00 and gave the company a market perform rating in a report on Thursday, August 5th. They noted that the move was a valuation call. Truist began coverage on Sealed Air in a report on Monday. They set a buy rating and a $72.00 price target on the stock. Finally, William Blair began coverage on Sealed Air in a report on Monday, August 23rd. They set an outperform rating on the stock. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Buy and a consensus target price of $60.13.

SEE stock opened at $58.15 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 39.57. The firm has a market cap of $8.72 billion, a P/E ratio of 18.23, a P/E/G ratio of 1.71 and a beta of 1.26. Sealed Air has a 12-month low of $36.27 and a 12-month high of $62.04. The stock’s 50 day simple moving average is $58.47 and its 200 day simple moving average is $54.24.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Monday, August 2nd. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. Sealed Air had a return on equity of 519.84% and a net margin of 9.56%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 EPS. On average, research analysts forecast that Sealed Air will post 3.55 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 17th. Shareholders of record on Friday, September 3rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.38%. Sealed Air’s payout ratio is presently 25.08%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in Sealed Air by 1.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,708,376 shares of the industrial products company’s stock worth $765,578,000 after acquiring an additional 204,729 shares during the period. BlackRock Inc. raised its stake in shares of Sealed Air by 42.3% during the 2nd quarter. BlackRock Inc. now owns 14,864,594 shares of the industrial products company’s stock worth $880,726,000 after purchasing an additional 4,421,874 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Sealed Air by 6.9% during the 1st quarter. Janus Henderson Group PLC now owns 11,360,362 shares of the industrial products company’s stock worth $520,532,000 after purchasing an additional 731,840 shares in the last quarter. State Street Corp raised its stake in shares of Sealed Air by 1.8% during the 2nd quarter. State Street Corp now owns 7,510,757 shares of the industrial products company’s stock worth $445,012,000 after purchasing an additional 135,138 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Sealed Air by 24.9% during the 2nd quarter. Alliancebernstein L.P. now owns 2,873,561 shares of the industrial products company’s stock worth $170,258,000 after purchasing an additional 572,027 shares in the last quarter. Hedge funds and other institutional investors own 90.00% of the company’s stock.

About Sealed Air

Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment serves the perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.

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