Wells Fargo & Company Issues Pessimistic Forecast for Sealed Air (NYSE:SEE) Stock Price

Sealed Air (NYSE:SEE) had its price objective dropped by stock analysts at Wells Fargo & Company from $44.00 to $42.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 22.81% from the stock’s current price.

A number of other brokerages also recently issued reports on SEE. Royal Bank of Canada cut their price objective on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research report on Thursday, October 17th. Truist Financial lifted their price objective on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday. Finally, StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $40.17.

Sealed Air Stock Up 0.6 %

Sealed Air stock opened at $34.20 on Monday. Sealed Air has a one year low of $30.87 and a one year high of $41.14. The stock has a fifty day moving average of $35.46 and a 200 day moving average of $35.24. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The stock has a market cap of $4.98 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.12. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 EPS. As a group, sell-side analysts predict that Sealed Air will post 3.06 EPS for the current year.

Hedge Funds Weigh In On Sealed Air

Several institutional investors have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Sealed Air during the 2nd quarter valued at approximately $34,000. GAMMA Investing LLC raised its stake in Sealed Air by 218.0% during the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 907 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Sealed Air by 100.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock valued at $99,000 after purchasing an additional 1,422 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Sealed Air by 523.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sealed Air in the 2nd quarter worth $105,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

About Sealed Air

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.