Sealed Air (NYSE:SEE) Given New $39.00 Price Target at Bank of America

Sealed Air (NYSE:SEE - Free Report) had its target price reduced by Bank of America from $42.00 to $39.00 in a research report released on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the industrial products company's stock.

A number of other research analysts have also weighed in on SEE. StockNews.com raised shares of Sealed Air from a "hold" rating to a "buy" rating in a report on Tuesday, December 10th. Truist Financial boosted their target price on shares of Sealed Air from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Monday. Wells Fargo & Company lowered their price target on shares of Sealed Air from $44.00 to $42.00 and set an "overweight" rating for the company in a report on Monday. Royal Bank of Canada reduced their price objective on Sealed Air from $40.00 to $39.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 17th. Finally, Raymond James raised Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 price objective for the company in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sealed Air presently has an average rating of "Moderate Buy" and a consensus target price of $40.83.

Sealed Air Price Performance

SEE traded up $0.25 during trading on Monday, hitting $33.97. 1,336,213 shares of the company traded hands, compared to its average volume of 1,160,738. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The company has a market cap of $4.95 billion, a PE ratio of 12.49, a P/E/G ratio of 4.97 and a beta of 1.34. The stock's 50-day simple moving average is $35.49 and its two-hundred day simple moving average is $35.26. Sealed Air has a 1 year low of $30.87 and a 1 year high of $41.14.

Sealed Air (NYSE:SEE - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.12. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 earnings per share. As a group, sell-side analysts anticipate that Sealed Air will post 3.06 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Friday, December 6th. Sealed Air's payout ratio is presently 29.41%.

Institutional Investors Weigh In On Sealed Air

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Sealed Air by 100.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company's stock valued at $99,000 after purchasing an additional 1,422 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Sealed Air by 5.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 16,199 shares of the industrial products company's stock worth $564,000 after buying an additional 788 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Sealed Air by 1.9% during the second quarter. Arizona State Retirement System now owns 40,452 shares of the industrial products company's stock valued at $1,407,000 after buying an additional 758 shares during the period. Oak Thistle LLC bought a new stake in shares of Sealed Air in the second quarter valued at about $372,000. Finally, Quest Partners LLC lifted its stake in Sealed Air by 1,062.8% in the second quarter. Quest Partners LLC now owns 17,431 shares of the industrial products company's stock worth $606,000 after acquiring an additional 15,932 shares during the period. Institutional investors 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.