Zacks Investment Research Upgrades Sealed Air (SEE) to Hold

Sealed Air (NYSE:SEE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Sealed Air projects sales of $4.4 billion in 2017 and adjusted EPS in the range of $1.75-$1.80. The Diversey sale is expected to help focus on the Food Care and Product Care divisions. The acquisitions of Deltaplam and Fagerdala will likely expand the company's geographic presence. 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. However, the company is expected to gain from enhanced demand for core product portfolio, recently-introduced innovations, growth in the global protein market and e-Commerce.”

A number of other research analysts have also commented on SEE. Bank of America upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Thursday, September 21st. KeyCorp reissued a “hold” rating on shares of Sealed Air in a report on Monday, October 2nd. Barclays boosted their price objective on shares of Sealed Air from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, November 9th. Royal Bank of Canada reissued a “hold” rating and issued a $47.00 price objective on shares of Sealed Air in a report on Thursday, November 9th. Finally, SunTrust Banks reissued a “buy” rating and issued a $48.00 price objective on shares of Sealed Air in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Sealed Air has a consensus rating of “Hold” and an average target price of $49.42.

Sealed Air (SEE) opened at $49.10 on Friday. Sealed Air has a 52 week low of $41.22 and a 52 week high of $50.62. The company has a market cap of $8,792.03, a PE ratio of 9.35, a P/E/G ratio of 5.08 and a beta of 1.24. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 4.23.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.46 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.46. Sealed Air had a net margin of 20.15% and a return on equity of 67.60%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business earned $0.41 EPS. Sealed Air’s quarterly revenue was up 6.2% on a year-over-year basis. equities 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 company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $48.98, for a total transaction of $146,940.00. Following the completion of the sale, 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 company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $45.24, for a total transaction of $271,440.00. Following the sale, the senior vice president now directly owns 142,077 shares of the company’s stock, valued at approximately $6,427,563.48. The disclosure for this sale can be found here. Insiders own 1.05% of the company’s stock.

Several institutional investors have recently modified their holdings of SEE. Massey Quick Simon & CO. LLC bought a new stake in shares of Sealed Air during the 3rd quarter worth approximately $140,000. King Luther Capital Management Corp bought a new stake in shares of Sealed Air during the 2nd quarter worth approximately $205,000. Ameritas Investment Partners Inc. lifted 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 worth $213,000 after acquiring an additional 70 shares during the period. IFM Investors Pty Ltd bought a new position in Sealed Air in the 3rd quarter valued at approximately $242,000. Finally, Fox Run Management L.L.C. bought a new position in Sealed Air in the 3rd quarter valued at approximately $295,000. 93.00% of the stock is owned by institutional investors.

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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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