Mizuho Issues Pessimistic Forecast for Sealed Air (NYSE:SEE) Stock Price

Sealed Air (NYSE:SEE) had its price objective decreased by analysts at Mizuho from $39.00 to $32.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Mizuho’s target price would indicate a potential upside of 23.70% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Truist Financial raised their target price on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Citigroup lowered their price objective on Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley decreased their price target on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Bank of America lowered their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Five equities research 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 company. Based on data from MarketBeat.com, Sealed Air has a consensus rating of “Moderate Buy” and an average price target of $39.42.

Sealed Air Stock Performance

NYSE:SEE opened at $25.87 on Tuesday. 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 firm’s fifty day simple moving average is $30.05 and its 200 day simple moving average is $33.50. The stock has a market cap of $3.77 billion, a P/E ratio of 9.51 and a beta of 1.35. Sealed Air has a twelve month low of $22.78 and a twelve month high of $41.14.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share (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 analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. Sealed Air’s quarterly revenue was down .4% on a year-over-year basis. As a group, research analysts predict that Sealed Air will post 3.05 EPS for the current year.

Insider Buying and Selling

In other news, Director Henry R. Keizer purchased 1,120 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at $1,050,000. This trade represents a 3.31 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SEE. Vanguard Group Inc. lifted its position in shares of Sealed Air by 17.7% in the fourth quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company’s stock valued at $620,117,000 after acquiring an additional 2,754,395 shares in the last quarter. Invesco Ltd. lifted its holdings in Sealed Air by 69.2% in the 4th 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. Norges Bank bought a new position in Sealed Air in the 4th quarter worth approximately $50,562,000. T. Rowe Price Investment Management Inc. grew its holdings in Sealed Air by 9.6% during the 4th 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 buying an additional 1,081,848 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Sealed Air by 84.0% during the fourth quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company’s stock valued at $68,182,000 after buying an additional 920,000 shares during the last quarter. 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.