Sealed Air (SEE) Rating Lowered to Neutral at Bank of America

Sealed Air (NYSE:SEE) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Thursday, MarketBeat.com reports. They presently have a $40.00 price objective on the industrial products company’s stock. Bank of America’s price objective indicates a potential upside of 24.61% from the stock’s previous close.

SEE has been the topic of several other reports. Barclays decreased their price objective on shares of Sealed Air from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, August 9th. ValuEngine cut shares of Sealed Air from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. KeyCorp restated a “hold” rating on shares of Sealed Air in a research report on Thursday, August 2nd. Zacks Investment Research cut shares of Sealed Air from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Finally, Citigroup decreased their price objective on shares of Sealed Air from $47.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, October 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Sealed Air currently has an average rating of “Hold” and an average price target of $47.09.

Shares of Sealed Air stock opened at $32.10 on Thursday. Sealed Air has a 12-month low of $31.50 and a 12-month high of $49.94. The stock has a market capitalization of $5.60 billion, a PE ratio of 17.91, a PEG ratio of 1.51 and a beta of 1.10. The company has a current ratio of 1.11, a quick ratio of 0.69 and a debt-to-equity ratio of -8.64.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.06. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Sealed Air had a net margin of 14.37% and a return on equity of 859.42%. Sealed Air’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share. On average, analysts anticipate that Sealed Air will post 2.51 earnings per share for the current year.

In other Sealed Air news, insider Edward L. Doheny II purchased 5,000 shares of Sealed Air stock in a transaction on Monday, August 13th. The shares were acquired at an average cost of $39.65 per share, for a total transaction of $198,250.00. Following the completion of the transaction, the insider now directly owns 78,145 shares of the company’s stock, valued at $3,098,449.25. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Jerry R. Whitaker purchased 1,000 shares of Sealed Air stock in a transaction on Tuesday, August 14th. The shares were acquired at an average price of $39.81 per share, for a total transaction of $39,810.00. Following the completion of the transaction, the director now directly owns 8,021 shares of the company’s stock, valued at $319,316.01. The disclosure for this purchase can be found here. Insiders have acquired 6,600 shares of company stock worth $262,654 over the last quarter. Company insiders own 0.63% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Cerebellum GP LLC bought a new position in Sealed Air during the third quarter valued at approximately $180,000. Signition LP bought a new position in Sealed Air during the second quarter valued at approximately $204,000. HL Financial Services LLC bought a new position in Sealed Air during the second quarter valued at approximately $233,000. IFM Investors Pty Ltd grew its position in Sealed Air by 31.7% during the second quarter. IFM Investors Pty Ltd now owns 7,969 shares of the industrial products company’s stock valued at $338,000 after acquiring an additional 1,916 shares during the last quarter. Finally, Oakbrook Investments LLC bought a new position in Sealed Air during the third quarter valued at approximately $376,000. Institutional investors and hedge funds own 96.30% of the company’s stock.

Sealed Air Company Profile

Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the 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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