Citigroup Issues Positive Forecast for Sealed Air (NYSE:SEE) Stock Price

Sealed Air (NYSE:SEE - Free Report) had its price objective increased by Citigroup from $33.00 to $37.00 in a research note published on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the industrial products company's stock.

Several other equities analysts have also weighed in on SEE. UBS Group lifted their target price on shares of Sealed Air from $39.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday. Wall Street Zen upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Mizuho reduced their target price on shares of Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Truist Financial lifted their target price on shares of Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a report on Friday. Finally, Raymond James Financial reduced their target price on shares of Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating on the stock in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $37.55.

Sealed Air Price Performance

Shares of SEE traded down $0.69 during mid-day trading on Friday, reaching $32.01. 639,730 shares of the company's stock were exchanged, compared to its average volume of 1,543,924. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 5.26. The company has a 50-day simple moving average of $31.66 and a two-hundred day simple moving average of $31.36. Sealed Air has a 52-week low of $22.78 and a 52-week high of $38.85. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.98 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last released its earnings results on Tuesday, May 6th. The industrial products company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.67 by $0.14. The firm had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.27 billion. Sealed Air had a net margin of 5.55% and a return on equity of 65.49%. Sealed Air's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. On average, sell-side analysts predict that Sealed Air will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.50%. Sealed Air's dividend payout ratio (DPR) is currently 39.60%.

Institutional Investors Weigh In On Sealed Air

Institutional investors have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Sealed Air in the first quarter worth approximately $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Sealed Air in the fourth quarter worth $27,000. North Capital Inc. purchased a new stake in Sealed Air in the first quarter worth $30,000. Brown Brothers Harriman & Co. increased its position in Sealed Air by 89.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company's stock worth $51,000 after buying an additional 712 shares during the last quarter. Finally, CX Institutional bought a new position in shares of Sealed Air in the first quarter worth $52,000. Institutional investors own 94.40% of the company's stock.

Sealed Air Company Profile

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.