Sealed Air Corporation (NYSE:SEE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday, July 12th. The brokerage presently has a $52.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price points to a potential upside of 17.70% from the stock’s previous close.
According to Zacks, “For 2017, Sealed Air expects sales of $4.3 billion reflecting an expected 3% constant dollar sales growth in Food Care and 3–4% constant dollar sales growth in Product Care. In 2017, volume growth will be partially offset by higher raw material costs, a higher mix of eCommerce and fulfillment sales, along with the impact of functional support and related expenses, EPS is likely to be around $1.70 per share for 2017 due to the dilutive impact of the Diversey sale. Further, the company’s shares have underperformed the Zacks categorized sub industry year to date. However, Sealed Air’s top-line will be supported by enhanced demand for its core product portfolio, recently-introduced innovations, and accelerated growth in the global protein market along with the eCommerce sector. It will also benefit from the divestiture of its Diversey business. Its estimates have gone up in the past few days.”
Other equities analysts have also recently issued reports about the stock. Jefferies Group LLC lowered their price target on shares of Sealed Air Corporation from $45.00 to $40.00 and set a “hold” rating on the stock in a research note on Wednesday, May 10th. UBS AG set a $49.00 price objective on shares of Sealed Air Corporation and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Royal Bank Of Canada reiterated a “hold” rating and issued a $44.00 price objective on shares of Sealed Air Corporation in a research report on Tuesday, June 13th. Robert W. Baird reiterated an “outperform” rating and issued a $55.00 price objective on shares of Sealed Air Corporation in a research report on Tuesday, June 13th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Sealed Air Corporation from a “conviction-buy” rating to a “buy” rating and decreased their price objective for the stock from $53.00 to $50.00 in a research report on Tuesday, April 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.27.
Shares of Sealed Air Corporation (SEE) opened at 44.18 on Wednesday. Sealed Air Corporation has a one year low of $41.74 and a one year high of $50.62. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 22.83 and a beta of 1.16. The firm has a 50-day moving average of $44.91 and a 200 day moving average of $45.19.
Sealed Air Corporation (NYSE:SEE) last posted its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.01. Sealed Air Corporation had a return on equity of 84.32% and a net margin of 6.81%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts predict that Sealed Air Corporation will post $1.81 EPS for the current year.
In related news, CAO William G. Stiehl sold 3,000 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $43.43, for a total transaction of $130,290.00. Following the completion of the sale, the chief accounting officer now owns 37,797 shares of the company’s stock, valued at approximately $1,641,523.71. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Sealed Air Corporation by 2.1% in the second quarter. Vanguard Group Inc. now owns 20,011,046 shares of the industrial products company’s stock worth $895,695,000 after buying an additional 403,530 shares during the period. BlackRock Inc. increased its stake in Sealed Air Corporation by 2.8% in the second quarter. BlackRock Inc. now owns 12,373,821 shares of the industrial products company’s stock worth $553,853,000 after buying an additional 333,722 shares during the period. Janus Capital Management LLC increased its stake in Sealed Air Corporation by 9.0% in the first quarter. Janus Capital Management LLC now owns 10,071,664 shares of the industrial products company’s stock worth $438,917,000 after buying an additional 834,754 shares during the period. Ameriprise Financial Inc. increased its stake in Sealed Air Corporation by 199.6% in the second quarter. Ameriprise Financial Inc. now owns 4,592,978 shares of the industrial products company’s stock worth $205,703,000 after buying an additional 3,059,792 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Sealed Air Corporation by 245.4% in the second quarter. Wells Fargo & Company MN now owns 4,191,343 shares of the industrial products company’s stock worth $187,604,000 after buying an additional 2,977,854 shares during the period. 91.94% of the stock is owned by hedge funds and other institutional investors.
About Sealed Air Corporation
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing a range of integrated system solutions.
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