UBS set a $52.00 target price on Sealed Air (NYSE:SEE) in a report issued on Wednesday morning, www.stocktargetadvisor.com reports. The brokerage currently has a buy rating on the industrial products company’s stock.
SEE has been the topic of a number of other research reports. Zacks Investment Research raised Sealed Air from a hold rating to a buy rating and set a $50.00 price target on the stock in a research report on Monday, May 21st. BMO Capital Markets reaffirmed a hold rating and set a $50.00 price target on shares of Sealed Air in a research report on Thursday, January 25th. Bank of America upped their price target on Sealed Air from $48.00 to $50.00 and gave the company a buy rating in a research report on Friday, May 4th. TheStreet cut Sealed Air from a b rating to a c rating in a research report on Thursday, February 8th. Finally, KeyCorp reiterated a hold rating on shares of Sealed Air in a research note on Thursday, May 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Sealed Air currently has a consensus rating of Hold and a consensus price target of $50.64.
Shares of NYSE SEE opened at $45.77 on Wednesday. Sealed Air has a one year low of $40.76 and a one year high of $49.94. The company has a debt-to-equity ratio of -8.90, a quick ratio of 0.77 and a current ratio of 1.17. The firm has a market cap of $7.35 billion, a PE ratio of 25.29, a PEG ratio of 1.56 and a beta of 1.15.
Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, May 3rd. The industrial products company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Sealed Air had a return on equity of 154.85% and a net margin of 14.06%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm earned $0.43 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. research analysts expect that Sealed Air will post 2.51 EPS for the current fiscal year.
Sealed Air announced that its board has initiated a share repurchase plan on Thursday, May 3rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 1st will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.40%. Sealed Air’s payout ratio is 35.36%.
In related news, insider Kenneth P. Chrisman sold 7,000 shares of the business’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $45.01, for a total transaction of $315,070.00. Following the sale, the insider now directly owns 36,218 shares in the company, valued at approximately $1,630,172.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Twin Tree Management LP bought a new position in Sealed Air in the 1st quarter worth about $138,000. SeaCrest Wealth Management LLC bought a new position in Sealed Air in the 4th quarter worth about $171,000. Dupont Capital Management Corp bought a new position in Sealed Air in the 1st quarter worth about $180,000. Massey Quick Simon & CO. LLC increased its stake in Sealed Air by 100.0% in the 1st quarter. Massey Quick Simon & CO. LLC now owns 4,654 shares of the industrial products company’s stock worth $199,000 after acquiring an additional 2,327 shares during the last quarter. Finally, Compton Capital Management Inc. RI bought a new position in Sealed Air in the 4th quarter worth about $205,000. Institutional investors own 97.45% of the company’s stock.
About Sealed Air
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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