Sealed Air (NYSE:SEE) PT Lowered to $40.00 at Wells Fargo & Co

Sealed Air (NYSE:SEE) had its target price lowered by Wells Fargo & Co from $43.00 to $40.00 in a research report sent to investors on Thursday, Stock Target Advisor reports. Wells Fargo & Co currently has a market perform rating on the industrial products company’s stock.

A number of other research firms have also issued reports on SEE. ValuEngine lowered Sealed Air from a sell rating to a strong sell rating in a report on Thursday, October 10th. KeyCorp raised Sealed Air from an underweight rating to a sector weight rating in a report on Wednesday. They noted that the move was a valuation call. Finally, Citigroup lowered their target price on Sealed Air from $45.00 to $42.00 and set a neutral rating on the stock in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $42.96.

NYSE SEE traded up $1.20 during trading hours on Thursday, hitting $40.02. The company had a trading volume of 1,644,419 shares, compared to its average volume of 1,363,901. Sealed Air has a fifty-two week low of $32.33 and a fifty-two week high of $47.13. The business has a fifty day simple moving average of $41.04 and a 200-day simple moving average of $42.47. The firm has a market cap of $6.46 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 1.56 and a beta of 1.07.

Sealed Air (NYSE:SEE) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. Sealed Air had a negative return on equity of 121.14% and a net margin of 7.84%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. On average, equities research analysts expect that Sealed Air will post 2.78 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.16 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.60%. Sealed Air’s dividend payout ratio (DPR) is 25.60%.

In related news, CFO James M. Sullivan purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was acquired at an average price of $38.75 per share, for a total transaction of $193,750.00. Following the transaction, the chief financial officer now directly owns 17,028 shares of the company’s stock, valued at approximately $659,835. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Motco acquired a new position in shares of Sealed Air in the 2nd quarter valued at $29,000. Doyle Wealth Management acquired a new stake in Sealed Air during the 2nd quarter worth about $40,000. CSat Investment Advisory L.P. boosted its position in Sealed Air by 34.1% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,234 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 314 shares during the period. Massey Quick Simon & CO. LLC acquired a new stake in Sealed Air during the 3rd quarter worth about $96,000. Finally, Rockefeller Capital Management L.P. boosted its position in Sealed Air by 51.4% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 2,894 shares of the industrial products company’s stock worth $124,000 after acquiring an additional 983 shares during the period. Institutional investors and hedge funds own 96.56% of the company’s stock.

About Sealed Air

Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.

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Analyst Recommendations for Sealed Air (NYSE:SEE)

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