Citigroup Issues Pessimistic Forecast for Sealed Air (NYSE:SEE) Stock Price

Sealed Air (NYSE:SEE - Get Free Report) had its price objective dropped by analysts at Citigroup from $44.00 to $42.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the industrial products company's stock. Citigroup's target price would suggest a potential upside of 23.64% from the stock's previous close.

Several other research firms have also recently weighed in on SEE. Bank of America cut their price objective on Sealed Air from $42.00 to $39.00 and set a "buy" rating on the stock in a report on Monday. Truist Financial upped their price target on shares of Sealed Air from $41.00 to $44.00 and gave the company a "buy" rating in a report on Monday. Royal Bank of Canada dropped their price objective on shares of Sealed Air from $40.00 to $39.00 and set a "sector perform" rating on the stock in a report on Thursday, October 17th. StockNews.com raised shares of Sealed Air from a "hold" rating to a "buy" rating in a research note on Tuesday, December 10th. Finally, Raymond James raised Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 price target on the stock in a research note on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Sealed Air presently has an average rating of "Moderate Buy" and an average target price of $40.83.

Sealed Air Trading Up 0.7 %

NYSE SEE traded up $0.25 during trading on Monday, reaching $33.97. 1,336,213 shares of the stock traded hands, compared to its average volume of 1,160,738. The stock's 50-day moving average price is $35.49 and its 200 day moving average price is $35.26. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. Sealed Air has a fifty-two week low of $30.87 and a fifty-two week high of $41.14.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.12. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm's revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. Analysts predict that Sealed Air will post 3.06 EPS for the current year.

Hedge Funds Weigh In On Sealed Air

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Sealed Air in the second quarter valued at approximately $34,000. GAMMA Investing LLC lifted its holdings in Sealed Air by 218.0% during the 4th quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 907 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Sealed Air by 100.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company's stock worth $99,000 after purchasing an additional 1,422 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Sealed Air by 523.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company's stock valued at $101,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sealed Air in the second quarter valued at about $105,000. Institutional investors own 94.40% of the company's stock.

Sealed Air Company Profile

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.