Sealed Air Corporation (SEE) Upgraded to “Buy” by Bank of America Corporation
Bank of America Corporation upgraded shares of Sealed Air Corporation (NYSE:SEE) from a neutral rating to a buy rating in a research note issued to investors on Thursday. They currently have $48.00 target price on the industrial products company’s stock.
Other equities research analysts also recently issued reports about the company. BMO Capital Markets reissued a hold rating and issued a $47.00 price objective on shares of Sealed Air Corporation in a research note on Thursday, July 20th. Zacks Investment Research downgraded Sealed Air Corporation from a buy rating to a hold rating in a research note on Wednesday, July 19th. BidaskClub downgraded Sealed Air Corporation from a buy rating to a hold rating in a research note on Monday, July 24th. Robert W. Baird reissued an outperform rating and issued a $55.00 price objective on shares of Sealed Air Corporation in a research note on Tuesday, June 13th. Finally, Royal Bank Of Canada reissued a hold rating and issued a $44.00 price objective on shares of Sealed Air Corporation in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $48.33.
Shares of Sealed Air Corporation (NYSE:SEE) traded down 0.05% on Thursday, reaching $42.42. 1,523,775 shares of the company traded hands. The company has a market capitalization of $8.06 billion, a PE ratio of 21.92 and a beta of 1.19. The firm has a 50-day moving average of $44.13 and a 200-day moving average of $44.40. Sealed Air Corporation has a 52-week low of $41.22 and a 52-week high of $50.62.
Sealed Air Corporation (NYSE:SEE) last announced its earnings results on Tuesday, August 8th. The industrial products company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Sealed Air Corporation had a net margin of 6.81% and a return on equity of 84.32%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the company earned $0.65 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts forecast that Sealed Air Corporation will post $1.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.51%. The ex-dividend date was Wednesday, August 30th. Sealed Air Corporation’s payout ratio is currently 33.16%.
In other Sealed Air Corporation news, Director Lawrence R. Codey sold 3,500 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $42.91, for a total value of $150,185.00. Following the transaction, the director now directly owns 38,180 shares of the company’s stock, valued at approximately $1,638,303.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.05% of the company’s stock.
A number of hedge funds have recently modified their holdings of SEE. First Trust Advisors LP acquired a new position in Sealed Air Corporation in the 1st quarter worth about $3,450,000. American Century Companies Inc. increased its position in Sealed Air Corporation by 4.1% in the 1st quarter. American Century Companies Inc. now owns 115,534 shares of the industrial products company’s stock worth $5,035,000 after purchasing an additional 4,586 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in Sealed Air Corporation by 7.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 491,244 shares of the industrial products company’s stock worth $21,408,000 after purchasing an additional 35,488 shares during the last quarter. Karp Capital Management Corp acquired a new position in Sealed Air Corporation in the 1st quarter worth about $2,458,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Sealed Air Corporation by 29.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,352 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 3,271 shares during the last quarter. 92.12% of the stock is currently owned by institutional investors.
About Sealed Air Corporation
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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