Sealed Air (NYSE:SEE) Rating Increased to Buy at Truist Financial

Sealed Air (NYSE:SEE - Get Free Report) was upgraded by equities researchers at Truist Financial from a "hold" rating to a "buy" rating in a report released on Monday, MarketBeat Ratings reports. The firm currently has a $44.00 price objective on the industrial products company's stock, up from their prior price objective of $39.00. Truist Financial's target price suggests a potential upside of 31.85% from the company's previous close.

SEE has been the subject of a number of other reports. Wolfe Research started coverage on Sealed Air in a research note on Friday, March 1st. They issued a "peer perform" rating for the company. Wells Fargo & Company upgraded Sealed Air from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $35.00 to $43.00 in a research note on Thursday, January 11th. Finally, Mizuho decreased their price target on Sealed Air from $40.00 to $39.00 and set a "neutral" rating for the company in a research note on Wednesday, February 28th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $44.18.

Sealed Air Stock Up 2.2 %

Shares of NYSE SEE traded up $0.71 during mid-day trading on Monday, reaching $33.37. 2,908,583 shares of the company were exchanged, compared to its average volume of 1,616,393. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 8.21. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 2.72 and a beta of 1.28. Sealed Air has a 1 year low of $28.50 and a 1 year high of $48.44. The firm has a 50-day moving average of $35.60 and a 200 day moving average of $34.28.

Sealed Air (NYSE:SEE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.26. The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. The firm's quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 EPS. On average, research analysts expect that Sealed Air will post 2.85 earnings per share for the current year.

Institutional Trading of Sealed Air

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dark Forest Capital Management LP acquired a new stake in Sealed Air in the third quarter valued at approximately $895,000. Adage Capital Partners GP L.L.C. lifted its position in shares of Sealed Air by 66.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 250,097 shares of the industrial products company's stock valued at $8,218,000 after acquiring an additional 99,700 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Sealed Air by 45.7% in the third quarter. Envestnet Asset Management Inc. now owns 527,945 shares of the industrial products company's stock valued at $17,348,000 after acquiring an additional 165,694 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Sealed Air by 0.5% in the third quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company's stock valued at $553,809,000 after acquiring an additional 92,114 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Sealed Air by 23.1% in the third quarter. Deutsche Bank AG now owns 566,020 shares of the industrial products company's stock valued at $18,599,000 after acquiring an additional 106,144 shares in the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

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.