Zacks Investment Research Downgrades Sealed Air (SEE) to Sell

Zacks Investment Research lowered shares of Sealed Air (NYSE:SEE) from a hold rating to a sell rating in a research report released on Tuesday morning.

According to Zacks, “Sealed Air projects sales of $4.4 billion in 2017 and adjusted EPS in the range of $1.75-$1.80. Even though restructuring actions, investments in R&D are anticipated to drive future growth, it might affect margins in the near term. Also weak volumes in Australia/New Zealand remain a concern. Moreover, Sealed Air has underperformed its industry in the past year. The company has a negative record of earnings surprises in the last few quarters. Its estimates have gone down lately. “

SEE has been the subject of a number of other reports. Bank of America set a $50.00 price target on Sealed Air and gave the stock a buy rating in a research note on Friday, October 13th. TheStreet raised Sealed Air from a c+ rating to a b- rating in a research note on Thursday, November 30th. SunTrust Banks reaffirmed a buy rating and set a $49.00 price target on shares of Sealed Air in a research note on Friday, November 17th. KeyCorp reaffirmed a hold rating on shares of Sealed Air in a research note on Monday, October 2nd. Finally, Royal Bank of Canada reaffirmed a hold rating and set a $47.00 price target on shares of Sealed Air in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $49.42.

Shares of Sealed Air (NYSE SEE) traded up $0.21 during trading on Tuesday, reaching $48.86. The company had a trading volume of 2,100,967 shares, compared to its average volume of 2,148,111. The stock has a market cap of $8,830.00, a P/E ratio of 46.98, a P/E/G ratio of 5.17 and a beta of 1.24. The company has a debt-to-equity ratio of 4.23, a quick ratio of 1.34 and a current ratio of 1.70. Sealed Air has a 1 year low of $41.22 and a 1 year high of $50.62.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. Sealed Air had a return on equity of 67.60% and a net margin of 20.15%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. research analysts forecast that Sealed Air will post 1.8 earnings per share for the current year.

In other news, CFO William G. Stiehl sold 3,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $48.98, for a total transaction of $146,940.00. Following the transaction, the chief financial officer now owns 34,797 shares of the company’s stock, valued at approximately $1,704,357.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Emile Z. Chammas sold 6,000 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $45.24, for a total value of $271,440.00. Following the transaction, the senior vice president now directly owns 142,077 shares in the company, valued at approximately $6,427,563.48. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. increased its holdings in shares of Sealed Air by 1.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,772 shares of the industrial products company’s stock valued at $213,000 after acquiring an additional 70 shares during the last quarter. Sentry Investment Management LLC increased its holdings in shares of Sealed Air by 2.6% during the 2nd quarter. Sentry Investment Management LLC now owns 6,824 shares of the industrial products company’s stock valued at $305,000 after acquiring an additional 173 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Sealed Air by 1.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,548 shares of the industrial products company’s stock valued at $651,000 after acquiring an additional 196 shares during the last quarter. Thrivent Financial For Lutherans increased its holdings in shares of Sealed Air by 3.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 7,422 shares of the industrial products company’s stock valued at $332,000 after acquiring an additional 280 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Sealed Air by 8.1% during the 2nd quarter. Pacer Advisors Inc. now owns 4,301 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 322 shares during the last quarter. 92.93% of the stock is currently owned by institutional investors and hedge funds.

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About Sealed Air

Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.

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