Sealed Air (NYSE:SEE) Given New $33.00 Price Target at Truist Financial

Sealed Air (NYSE:SEE - Get Free Report) had its price objective reduced by Truist Financial from $44.00 to $33.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Truist Financial's target price suggests a potential upside of 19.48% from the company's current price.

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Sealed Air from $39.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. Citigroup reduced their price target on shares of Sealed Air from $44.00 to $42.00 and set a "buy" rating for the company in a research report on Monday, January 6th. StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Mizuho lowered their price target on Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, UBS Group raised Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price objective for the company in a research note on Monday, April 7th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sealed Air currently has an average rating of "Moderate Buy" and an average price target of $38.00.

Sealed Air Stock Performance

NYSE:SEE traded down $0.16 during trading hours on Tuesday, reaching $27.62. The company had a trading volume of 1,928,272 shares, compared to its average volume of 1,543,338. The firm has a market cap of $4.06 billion, a PE ratio of 10.15 and a beta of 1.35. Sealed Air has a 1-year low of $22.78 and a 1-year high of $41.14. The business's 50 day moving average price is $29.05 and its 200-day moving average price is $33.07. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79.

Sealed Air (NYSE:SEE - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $0.88 earnings per share. The firm's revenue was down .4% on a year-over-year basis. Research analysts forecast that Sealed Air will post 3.05 EPS for the current year.

Insiders Place Their Bets

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $30.00 per share, with a total value of $33,600.00. Following the transaction, the director now owns 35,000 shares of the company's stock, valued at $1,050,000. This trade represents a 3.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Sealed Air by 17.7% in the 4th quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company's stock worth $620,117,000 after acquiring an additional 2,754,395 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Sealed Air by 9.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company's stock valued at $416,657,000 after purchasing an additional 1,081,848 shares during the period. Invesco Ltd. lifted its stake in Sealed Air by 69.2% during the fourth quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock worth $128,176,000 after purchasing an additional 1,549,184 shares in the last quarter. Swedbank AB grew its stake in shares of Sealed Air by 57.3% in the fourth quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company's stock valued at $78,678,000 after buying an additional 846,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Sealed Air by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,204,663 shares of the industrial products company's stock valued at $74,583,000 after buying an additional 178,592 shares during the period. Hedge funds and other institutional investors own 94.40% of the company's stock.

About Sealed Air

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.