Wells Fargo & Company Issues Pessimistic Forecast for Sealed Air (NYSE:SEE) Stock Price

Sealed Air (NYSE:SEE) had its price target reduced by Wells Fargo & Company from $44.00 to $42.00 in a research report sent to investors on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company’s stock.

A number of other research analysts also recently weighed in on the stock. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a report on Thursday, October 17th. Royal Bank of Canada decreased their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Finally, Truist Financial raised their price objective on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.17.

Sealed Air Price Performance

Shares of NYSE:SEE opened at $33.71 on Monday. The business has a fifty day simple moving average of $35.40 and a 200 day simple moving average of $35.23. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air has a 1 year low of $30.87 and a 1 year high of $41.14. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 4.97 and a beta of 1.34.

Sealed Air (NYSE:SEE) last announced its quarterly 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. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company earned $0.77 EPS. The firm’s revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts predict that Sealed Air will post 3.06 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.37%. Sealed Air’s dividend payout ratio is 29.41%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SEE. Allspring Global Investments Holdings LLC lifted its position in shares of Sealed Air by 100.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock worth $99,000 after acquiring an additional 1,422 shares during the period. Commonwealth Equity Services LLC lifted its position in Sealed Air by 5.1% in the second quarter. Commonwealth Equity Services LLC now owns 16,199 shares of the industrial products company’s stock worth $564,000 after purchasing an additional 788 shares during the period. Arizona State Retirement System boosted its stake in Sealed Air by 1.9% during the second quarter. Arizona State Retirement System now owns 40,452 shares of the industrial products company’s stock worth $1,407,000 after buying an additional 758 shares in the last quarter. Oak Thistle LLC bought a new stake in Sealed Air in the 2nd quarter valued at $372,000. Finally, Quest Partners LLC raised its stake in shares of Sealed Air by 1,062.8% in the 2nd quarter. Quest Partners LLC now owns 17,431 shares of the industrial products company’s stock valued at $606,000 after buying an additional 15,932 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

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.