Sealed Air (NYSE:SEE) Rating Increased to Buy at Mizuho

Mizuho upgraded shares of Sealed Air (NYSE:SEEFree Report) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, reports. They currently have $50.00 price target on the industrial products company’s stock, up from their prior price target of $36.00.

Other equities research analysts have also recently issued research reports about the company. William Blair reaffirmed a market perform rating on shares of Sealed Air in a research report on Thursday, May 2nd. Wolfe Research started coverage on shares of Sealed Air in a research note on Friday, March 1st. They issued a peer perform rating for the company. Finally, Truist Financial upgraded shares of Sealed Air from a hold rating to a buy rating and raised their target price for the company from $39.00 to $44.00 in a research note on Monday, April 8th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $44.90.

Read Our Latest Stock Analysis on Sealed Air

Sealed Air Stock Down 2.4 %

Sealed Air stock opened at $38.68 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 7.49. Sealed Air has a 1-year low of $28.50 and a 1-year high of $47.12. The firm’s fifty day simple moving average is $35.44 and its 200-day simple moving average is $35.49. The company has a market capitalization of $5.63 billion, a P/E ratio of 15.53, a P/E/G ratio of 3.47 and a beta of 1.35.

Sealed Air (NYSE:SEEGet Free Report) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.53 by $0.25. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the business posted $0.74 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Sell-side analysts forecast that Sealed Air will post 2.89 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.07%. Sealed Air’s payout ratio is 32.13%.

Hedge Funds Weigh In On Sealed Air

Several large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its stake in shares of Sealed Air by 2,549.6% in the 4th quarter. Hsbc Holdings PLC now owns 5,340,247 shares of the industrial products company’s stock valued at $195,720,000 after buying an additional 5,138,700 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Sealed Air in the fourth quarter valued at about $86,410,000. Invesco Ltd. raised its position in Sealed Air by 70.1% in the third quarter. Invesco Ltd. now owns 5,238,340 shares of the industrial products company’s stock worth $172,132,000 after purchasing an additional 2,159,143 shares in the last quarter. Norges Bank bought a new position in Sealed Air during the fourth quarter worth about $52,968,000. Finally, Appian Way Asset Management LP acquired a new stake in Sealed Air during the first quarter valued at approximately $29,877,000. Institutional investors and hedge funds own 94.40% of the company’s stock.

About Sealed Air

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Sealed Air (NYSE:SEE)

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