Sealed Air (NYSE:SEE) Upgraded at Raymond James

Raymond James upgraded shares of Sealed Air (NYSE:SEE) from a market perform rating to a strong-buy rating in a research report report published on Thursday, Marketbeat.com reports. The firm currently has $42.00 target price on the industrial products company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Jefferies Financial Group downgraded shares of Sealed Air from a “buy” rating to a “hold” rating and decreased their price target for the company from $47.00 to $35.00 in a research note on Friday, August 9th. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company upped their price target on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Truist Financial decreased their price target on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus started coverage on shares of Sealed Air in a research note on Tuesday, July 9th. They set a “buy” rating and a $47.00 price target on the stock. 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Price Performance

Shares of NYSE:SEE opened at $37.12 on Thursday. The company has a debt-to-equity ratio of 6.81, a quick ratio of 0.79 and a current ratio of 1.30. The firm has a fifty day moving average price of $34.64 and a 200 day moving average price of $35.31. Sealed Air has a fifty-two week low of $28.50 and a fifty-two week high of $41.14. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 8.98 and a beta of 1.34.

Sealed Air (NYSE:SEE) last issued 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. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. Sealed Air’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Sealed Air will post 2.93 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio is presently 32.13%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SEE. Swedbank AB purchased a new position in Sealed Air in the 3rd quarter worth about $53,681,000. Millennium Management LLC grew its holdings in Sealed Air by 38.2% during the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after acquiring an additional 1,136,985 shares in the last quarter. Appian Way Asset Management LP bought a new position in Sealed Air during the 1st quarter worth about $29,877,000. Vanguard Group Inc. grew its holdings in Sealed Air by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock worth $621,380,000 after acquiring an additional 600,146 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Sealed Air by 33.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock worth $66,475,000 after acquiring an additional 479,675 shares in the last quarter. Hedge funds and other 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.