Sealed Air (NYSE:SEE) Rating Increased to Strong-Buy at Raymond James

Sealed Air (NYSE:SEE) was upgraded by equities researchers at Raymond James from a “market perform” rating to a “strong-buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $42.00 price target on the industrial products company’s stock. Raymond James’ target price indicates a potential upside of 13.15% from the company’s previous close.

A number of other equities analysts have also recently issued reports on SEE. Royal Bank of Canada cut Sealed Air from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $43.00 to $40.00 in a report on Friday, July 19th. Truist Financial dropped their price objective on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Citigroup lowered their target price on Sealed Air from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Stock Performance

NYSE SEE opened at $37.12 on Thursday. The company’s fifty day moving average is $34.64 and its two-hundred day moving average is $35.31. Sealed Air has a 52-week low of $28.50 and a 52-week high of $41.14. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 8.98 and a beta of 1.34.

Sealed Air (NYSE:SEE) last released its earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.80 earnings per share. Equities research analysts forecast that Sealed Air will post 2.93 EPS for the current year.

Institutional Trading of Sealed Air

Several hedge funds have recently added to or reduced their stakes in SEE. OmniStar Financial Group Inc. acquired a new stake in shares of Sealed Air during the third quarter worth about $731,000. Stonegate Investment Group LLC bought a new position in Sealed Air in the third quarter valued at approximately $212,000. Cardinal Capital Management boosted its holdings in shares of Sealed Air by 13.1% in the third quarter. Cardinal Capital Management now owns 39,336 shares of the industrial products company’s stock valued at $1,428,000 after buying an additional 4,558 shares during the period. Swedbank AB bought a new stake in shares of Sealed Air during the third quarter worth $53,681,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Sealed Air by 9.0% during the third quarter. Sound Income Strategies LLC now owns 69,795 shares of the industrial products company’s stock worth $2,534,000 after acquiring an additional 5,785 shares during the period. Institutional investors and hedge funds 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.