Mizuho Cuts Sealed Air (NYSE:SEE) Price Target to $68.00

Sealed Air (NYSE:SEEGet Rating) had its price objective trimmed by Mizuho from $72.00 to $68.00 in a research note released on Wednesday morning, Marketbeat.com reports. The firm currently has a neutral rating on the industrial products company’s stock.

Several other brokerages also recently commented on SEE. Bank of America downgraded shares of Sealed Air from a buy rating to a neutral rating and set a $67.00 price objective for the company. in a research note on Thursday, July 7th. Citigroup lowered their price objective on shares of Sealed Air from $81.00 to $80.00 in a research note on Friday, April 8th. Wells Fargo & Company lowered their price objective on shares of Sealed Air from $71.00 to $62.00 and set an equal weight rating for the company in a research note on Monday, July 18th. Royal Bank of Canada raised shares of Sealed Air from a sector perform rating to an outperform rating and upped their price objective for the company from $66.00 to $70.00 in a research note on Wednesday. Finally, Credit Suisse Group downgraded shares of Sealed Air from an outperform rating to a neutral rating and lowered their price objective for the company from $80.00 to $64.00 in a research note on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Sealed Air currently has a consensus rating of Hold and a consensus target price of $69.75.

Sealed Air Stock Performance

NYSE SEE opened at $55.47 on Wednesday. The company has a 50-day simple moving average of $58.86 and a two-hundred day simple moving average of $63.48. The company has a quick ratio of 0.74, a current ratio of 1.34 and a debt-to-equity ratio of 18.30. Sealed Air has a 12-month low of $54.51 and a 12-month high of $70.72. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.75 and a beta of 1.14.

Sealed Air (NYSE:SEEGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. Sealed Air had a net margin of 9.56% and a return on equity of 320.73%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the business posted $0.79 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. On average, equities analysts forecast that Sealed Air will post 4.13 EPS for the current year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, June 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, June 9th. Sealed Air’s payout ratio is currently 21.74%.

Insider Buying and Selling at Sealed Air

In other Sealed Air news, CEO Edward L. Doheny II bought 4,500 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average price of $56.95 per share, with a total value of $256,275.00. Following the completion of the purchase, the chief executive officer now owns 515,254 shares of the company’s stock, valued at $29,343,715.30. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other Sealed Air news, CEO Edward L. Doheny II bought 4,500 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average price of $56.95 per share, with a total value of $256,275.00. Following the completion of the purchase, the chief executive officer now owns 515,254 shares of the company’s stock, valued at $29,343,715.30. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Sergio A. Pupkin bought 1,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average cost of $57.66 per share, with a total value of $57,660.00. Following the purchase, the senior vice president now directly owns 45,748 shares of the company’s stock, valued at approximately $2,637,829.68. The disclosure for this purchase can be found here. Insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On Sealed Air

Institutional investors have recently made changes to their positions in the company. Ellevest Inc. grew its holdings in shares of Sealed Air by 269.0% during the first quarter. Ellevest Inc. now owns 369 shares of the industrial products company’s stock valued at $25,000 after buying an additional 269 shares during the last quarter. Confluence Wealth Services Inc. purchased a new stake in shares of Sealed Air during the fourth quarter valued at approximately $29,000. Parkside Financial Bank & Trust boosted its holdings in Sealed Air by 186.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 582 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 379 shares during the last quarter. CX Institutional purchased a new stake in Sealed Air in the second quarter worth approximately $39,000. Finally, Atticus Wealth Management LLC boosted its holdings in Sealed Air by 6,200.0% in the second quarter. Atticus Wealth Management LLC now owns 756 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 744 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Sealed Air Company Profile

(Get Rating)

Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.

See Also

Analyst Recommendations for Sealed Air (NYSE:SEE)

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