Sealed Air Corporation (NYSE:SEE) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
SEE has been the topic of several other reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $52.00 price target on shares of Sealed Air Corporation in a research report on Tuesday, April 11th. TheStreet downgraded shares of Sealed Air Corporation from a “b” rating to a “c+” rating in a research report on Tuesday, May 9th. Credit Suisse Group set a $50.00 price target on shares of Sealed Air Corporation and gave the stock a “buy” rating in a research report on Thursday, May 11th. Jefferies Group LLC decreased their price target on shares of Sealed Air Corporation from $45.00 to $40.00 and set a “hold” rating on the stock in a research report on Wednesday, May 10th. Finally, Zacks Investment Research downgraded shares of Sealed Air Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $48.91.
Shares of Sealed Air Corporation (NYSE:SEE) traded up 0.34% during midday trading on Wednesday, hitting $44.18. 837,529 shares of the stock traded hands. The firm has a market capitalization of $8.50 billion, a PE ratio of 22.83 and a beta of 1.16. The company’s 50-day moving average is $44.94 and its 200 day moving average is $45.22. Sealed Air Corporation has a 52 week low of $41.74 and a 52 week high of $50.62.
Sealed Air Corporation (NYSE:SEE) last released its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Sealed Air Corporation had a return on equity of 84.32% and a net margin of 6.81%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the business posted $0.65 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. Analysts anticipate that Sealed Air Corporation will post $1.81 earnings per share for the current year.
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In other news, CAO William G. Stiehl sold 3,000 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $43.43, for a total value of $130,290.00. Following the completion of the sale, the chief accounting officer now directly owns 37,797 shares of the company’s stock, valued at $1,641,523.71. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.86% of the company’s stock.
Several hedge funds have recently made changes to their positions in SEE. BlackRock Inc. boosted its stake in shares of Sealed Air Corporation by 3,073.2% in the first quarter. BlackRock Inc. now owns 12,040,099 shares of the industrial products company’s stock worth $524,706,000 after buying an additional 11,660,671 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Sealed Air Corporation by 199.6% in the second quarter. Ameriprise Financial Inc. now owns 4,592,978 shares of the industrial products company’s stock worth $205,703,000 after buying an additional 3,059,792 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Sealed Air Corporation by 245.4% in the second quarter. Wells Fargo & Company MN now owns 4,191,343 shares of the industrial products company’s stock worth $187,604,000 after buying an additional 2,977,854 shares during the period. Manning & Napier Advisors LLC boosted its stake in shares of Sealed Air Corporation by 5,650.5% in the second quarter. Manning & Napier Advisors LLC now owns 2,506,945 shares of the industrial products company’s stock worth $112,209,000 after buying an additional 2,463,350 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Sealed Air Corporation during the first quarter worth about $79,531,000. 91.94% of the stock is owned by hedge funds and other institutional investors.
About Sealed Air Corporation
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing a range of integrated system solutions.
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