Citigroup Cuts Sealed Air (NYSE:SEE) Price Target to $43.00

Sealed Air (NYSE:SEE) had its price objective reduced by Citigroup from $44.00 to $43.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other research firms have also weighed in on SEE. William Blair reiterated a market perform rating on shares of Sealed Air in a research note on Thursday, May 2nd. Mizuho upgraded shares of Sealed Air from a neutral rating to a buy rating and boosted their target price for the company from $36.00 to $50.00 in a research note on Thursday, June 6th. Truist Financial restated a buy rating and set a $44.00 price target on shares of Sealed Air in a research report on Monday, June 17th. Finally, StockNews.com lowered shares of Sealed Air from a buy rating to a hold rating in a research report on Wednesday, July 3rd. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sealed Air has an average rating of Moderate Buy and an average target price of $45.00.

Sealed Air Stock Up 1.9 %

Shares of NYSE:SEE opened at $35.30 on Monday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 7.49. The company has a fifty day simple moving average of $36.92 and a 200 day simple moving average of $35.75. The firm has a market cap of $5.14 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 3.10 and a beta of 1.35. Sealed Air has a 12-month low of $28.50 and a 12-month high of $47.12.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.25. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Sealed Air will post 2.89 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, June 14th. This represents a $0.80 annualized dividend and a yield of 2.27%. Sealed Air’s payout ratio is presently 32.13%.

Hedge Funds Weigh In On Sealed Air

Large investors have recently made changes to their positions in the business. Invenomic Capital Management LP acquired a new position in shares of Sealed Air in the 4th quarter valued at about $6,834,000. BNP Paribas Financial Markets increased its holdings in shares of Sealed Air by 158.5% in the 4th quarter. BNP Paribas Financial Markets now owns 322,620 shares of the industrial products company’s stock valued at $11,782,000 after purchasing an additional 197,799 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Sealed Air in the 4th quarter valued at about $2,965,000. Point72 Europe London LLP acquired a new position in shares of Sealed Air in the 4th quarter valued at about $852,000. Finally, Hsbc Holdings PLC increased its holdings in shares of Sealed Air by 2,549.6% in the 4th quarter. Hsbc Holdings PLC now owns 5,340,247 shares of the industrial products company’s stock valued at $195,720,000 after purchasing an additional 5,138,700 shares during the period. Institutional investors and hedge funds own 94.40% of the company’s stock.

About Sealed Air

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.