Truist Financial Forecasts Strong Price Appreciation for Sealed Air (NYSE:SEE) Stock

Sealed Air (NYSE:SEE) had its target price upped by equities research analysts at Truist Financial from $41.00 to $44.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would indicate a potential upside of 28.65% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada lowered their target price on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Finally, Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.17.

Sealed Air Price Performance

NYSE:SEE opened at $34.20 on Monday. The stock has a market cap of $4.98 billion, a PE ratio of 12.57, a P/E/G ratio of 4.97 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The business’s 50-day simple moving average is $35.46 and its two-hundred day simple moving average is $35.24. Sealed Air has a 52 week low of $30.87 and a 52 week high of $41.14.

Sealed Air (NYSE:SEE) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.12. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company earned $0.77 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, analysts forecast that Sealed Air will post 3.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Sealed Air

Several hedge funds and other institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. bought a new position in Sealed Air in the 3rd quarter valued at $139,800,000. Swedbank AB purchased a new position in Sealed Air in the 3rd quarter worth about $53,681,000. Millennium Management LLC lifted its holdings in Sealed Air by 38.2% during the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after buying an additional 1,136,985 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Sealed Air by 501.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 794,861 shares of the industrial products company’s stock valued at $28,853,000 after buying an additional 662,606 shares during the period. Finally, Maple Rock Capital Partners Inc. grew its stake in Sealed Air by 56.6% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock worth $55,085,000 after acquiring an additional 548,493 shares in the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

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.