Sealed Air (NYSE:SEE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Sealed Air projects sales of $4.4 billion in 2017 and adjusted EPS in the range of $1.75-$1.80. The Diversey sale is expected to help focus on the Food Care and Product Care divisions. The acquisitions of Deltaplam and Fagerdala will likely expand the company's geographic presence. Even though restructuring actions, investments in R&D are anticipated to drive future growth, it might affect margins in the near term. Also weak volumes in Australia/New Zealand remain a concern. Moreover, Sealed Air has underperformed its industry in the past year. However, the company is expected to gain from enhanced demand for core product portfolio, recently-introduced innovations, growth in the global protein market and e-Commerce.”
Other equities analysts have also issued reports about the stock. Bank of America upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Thursday, September 21st. Vertical Research lowered shares of Sealed Air from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. SunTrust Banks reiterated a “buy” rating and issued a $48.00 price target on shares of Sealed Air in a research note on Friday, November 10th. Royal Bank of Canada reiterated a “hold” rating and issued a $47.00 price target on shares of Sealed Air in a research note on Thursday, November 9th. Finally, Barclays increased their price target on shares of Sealed Air from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.42.
Shares of Sealed Air (SEE) traded up $0.24 during trading on Friday, reaching $48.74. 1,658,200 shares of the company’s stock traded hands, compared to its average volume of 2,116,183. The stock has a market capitalization of $8,748.74, a price-to-earnings ratio of 9.28, a P/E/G ratio of 5.07 and a beta of 1.24. Sealed Air has a one year low of $41.22 and a one year high of $50.62. The company has a debt-to-equity ratio of 4.23, a current ratio of 1.70 and a quick ratio of 1.34.
Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.46 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Sealed Air had a net margin of 20.15% and a return on equity of 67.60%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. sell-side analysts predict that Sealed Air will post 1.8 earnings per share for the current year.
In other news, CFO William G. Stiehl sold 3,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $48.98, for a total value of $146,940.00. Following the completion of the sale, the chief financial officer now directly owns 34,797 shares of the company’s stock, valued at $1,704,357.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Emile Z. Chammas sold 6,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $45.24, for a total value of $271,440.00. Following the sale, the senior vice president now directly owns 142,077 shares of the company’s stock, valued at $6,427,563.48. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. lifted its holdings in shares of Sealed Air by 1.5% during the second quarter. Ameritas Investment Partners Inc. now owns 4,772 shares of the industrial products company’s stock worth $213,000 after purchasing an additional 70 shares during the period. Sentry Investment Management LLC lifted its holdings in shares of Sealed Air by 2.6% during the second quarter. Sentry Investment Management LLC now owns 6,824 shares of the industrial products company’s stock worth $305,000 after purchasing an additional 173 shares during the period. Thrivent Financial For Lutherans lifted its holdings in shares of Sealed Air by 3.9% during the second quarter. Thrivent Financial For Lutherans now owns 7,422 shares of the industrial products company’s stock worth $332,000 after purchasing an additional 280 shares during the period. Suntrust Banks Inc. lifted its holdings in shares of Sealed Air by 0.8% during the second quarter. Suntrust Banks Inc. now owns 54,372 shares of the industrial products company’s stock worth $2,433,000 after purchasing an additional 441 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in shares of Sealed Air by 10.8% during the second quarter. HighTower Advisors LLC now owns 7,859 shares of the industrial products company’s stock worth $351,000 after purchasing an additional 769 shares during the period. 93.00% of the stock is owned by hedge funds and other institutional investors.
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Sealed Air Company Profile
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.
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