Sealed Air (NYSE:SEE) Given New $42.00 Price Target at Citigroup

Sealed Air (NYSE:SEE) had its price objective lowered by equities researchers at Citigroup from $44.00 to $42.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target would indicate a potential upside of 23.64% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Thursday, October 17th. Wells Fargo & Company reduced their price objective on Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Monday. Bank of America decreased their price objective on Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Monday. Royal Bank of Canada lowered their price target on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Finally, Truist Financial raised their target price on shares of Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Sealed Air presently has an average rating of “Moderate Buy” and an average price target of $40.83.

Sealed Air Stock Performance

NYSE SEE traded up $0.25 on Monday, hitting $33.97. 1,336,213 shares of the stock were exchanged, compared to its average volume of 1,000,387. The business’s fifty day moving average is $35.54 and its 200 day moving average is $35.27. Sealed Air has a 52 week low of $30.87 and a 52 week high of $41.14. The company has a market capitalization of $4.95 billion, a PE ratio of 12.49, a P/E/G ratio of 4.97 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79.

Sealed Air (NYSE:SEE) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.12. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. Sealed Air’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the business posted $0.77 EPS. Research analysts anticipate that Sealed Air will post 3.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Sealed Air

Institutional investors have recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL bought a new stake in shares of Sealed Air during the second quarter worth $34,000. GAMMA Investing LLC increased its holdings in Sealed Air by 218.0% in the 4th quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 907 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Sealed Air by 100.8% in 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 during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sealed Air during the second quarter worth about $105,000. 94.40% of the stock is currently owned by institutional investors and hedge funds.

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.