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

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

Other analysts have also recently issued research reports about the stock. Raymond James Financial cut their price target on shares of Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 22nd. Mizuho cut their price target on shares of Sealed Air from $39.00 to $32.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. UBS Group increased their price target on shares of Sealed Air from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Wall Street Zen upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Truist Financial increased their price target on shares of Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $37.55.

Sealed Air Stock Down 0.8%

Sealed Air stock traded down $0.26 during mid-day trading on Friday, reaching $31.76. The company's stock had a trading volume of 1,113,057 shares, compared to its average volume of 1,542,201. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 2.92 and a beta of 1.35. Sealed Air has a 12 month low of $22.78 and a 12 month high of $38.85. The business's 50 day simple moving average is $31.66 and its 200 day simple moving average is $31.32. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.76 and a current ratio of 1.26.

Sealed Air (NYSE:SEE - Get Free Report) last released its earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.14. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. Sealed Air had a net margin of 5.55% and a return on equity of 65.49%. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. As a group, research analysts anticipate that Sealed Air will post 3.05 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.52%. The ex-dividend date was Friday, June 13th. Sealed Air's payout ratio is 39.60%.

Hedge Funds Weigh In On Sealed Air

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL bought a new position in shares of Sealed Air during the first quarter valued at $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Sealed Air during the fourth quarter valued at $27,000. North Capital Inc. bought a new position in shares of Sealed Air during the first quarter valued at $30,000. Brown Brothers Harriman & Co. raised its stake in shares of Sealed Air by 89.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 712 shares during the last quarter. Finally, CX Institutional bought a new position in shares of Sealed Air during the first quarter valued at $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.