Sealed Air (NYSE:SEE) Price Target Cut to $32.00 by Analysts at Mizuho

Sealed Air (NYSE:SEE) had its price target reduced by Mizuho from $39.00 to $32.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Several other equities research analysts have also recently commented on SEE. Wells Fargo & Company boosted their price target on Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Morgan Stanley decreased their target price on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Bank of America cut their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Jefferies Financial Group set a $36.00 price objective on shares of Sealed Air in a report on Tuesday, March 4th. Finally, Truist Financial boosted their price target on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sealed Air presently has an average rating of “Moderate Buy” and an average price target of $39.42.

Sealed Air Stock Performance

SEE stock opened at $26.15 on Tuesday. The stock has a market cap of $3.81 billion, a P/E ratio of 9.61 and a beta of 1.35. 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 firm has a 50 day simple moving average of $30.21 and a 200 day simple moving average of $33.55. Sealed Air has a 52 week low of $22.78 and a 52 week high of $41.14.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. Sealed Air’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 earnings per share. Research analysts anticipate that Sealed Air will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.06%. The ex-dividend date was Friday, March 14th. Sealed Air’s dividend payout ratio is currently 44.20%.

Insider Activity

In related news, Director Henry R. Keizer bought 1,120 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the purchase, the director now directly owns 35,000 shares in the company, valued at $1,050,000. This trade represents a 3.31 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SEE. Arizona State Retirement System grew its position in Sealed Air by 0.8% during the fourth quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company’s stock worth $1,430,000 after buying an additional 348 shares in the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in shares of Sealed Air by 0.8% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 43,450 shares of the industrial products company’s stock worth $1,470,000 after purchasing an additional 350 shares in the last quarter. Choreo LLC increased its position in shares of Sealed Air by 3.7% during the fourth quarter. Choreo LLC now owns 9,829 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 351 shares during the period. Metis Global Partners LLC raised its stake in shares of Sealed Air by 4.3% in the fourth quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 375 shares in the last quarter. Finally, Truist Financial Corp lifted its position in Sealed Air by 3.3% in the fourth quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company’s stock worth $399,000 after purchasing an additional 377 shares during the period. 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.