Sealed Air (NYSE:SEE) Earns Buy Rating from Analysts at UBS Group

UBS Group started coverage on shares of Sealed Air (NYSE:SEE) in a research report released on Thursday morning, Benzinga reports. The firm issued a buy rating and a $52.00 price target on the industrial products company’s stock.

SEE has been the topic of several other research reports. Morgan Stanley lifted their price target on Sealed Air from $26.00 to $41.00 and gave the company an equal weight rating in a research note on Friday, August 7th. Zacks Investment Research raised Sealed Air from a sell rating to a hold rating and set a $37.00 target price on the stock in a research report on Thursday, July 16th. KeyCorp reiterated a hold rating on shares of Sealed Air in a report on Thursday, August 6th. Jefferies Financial Group started coverage on shares of Sealed Air in a report on Monday, July 13th. They issued a buy rating and a $39.00 price objective on the stock. Finally, Citigroup lifted their price target on shares of Sealed Air from $36.00 to $40.00 and gave the company a neutral rating in a research note on Monday, August 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $39.36.

Shares of NYSE:SEE opened at $39.13 on Thursday. Sealed Air has a fifty-two week low of $17.06 and a fifty-two week high of $42.74. The business has a 50-day moving average of $39.72 and a two-hundred day moving average of $32.58. The stock has a market capitalization of $6.09 billion, a P/E ratio of 15.23, a P/E/G ratio of 2.08 and a beta of 1.24.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.22. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Sealed Air had a net margin of 8.24% and a negative return on equity of 240.81%. Sealed Air’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 earnings per share. As a group, equities analysts forecast that Sealed Air will post 2.92 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, September 3rd. Sealed Air’s payout ratio is 22.70%.

In other news, SVP Karl R. Deily sold 9,239 shares of Sealed Air stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $40.18, for a total transaction of $371,223.02. Following the transaction, the senior vice president now owns 176,596 shares in the company, valued at $7,095,627.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Karl R. Deily sold 63,349 shares of Sealed Air stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $40.00, for a total transaction of $2,533,960.00. Following the transaction, the senior vice president now owns 196,398 shares in the company, valued at approximately $7,855,920. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Eminence Capital LP purchased a new stake in shares of Sealed Air during the first quarter worth about $75,701,000. Kohlberg Kravis Roberts & Co. L.P. purchased a new stake in shares of Sealed Air during the 2nd quarter valued at about $52,926,000. Nordea Investment Management AB increased its position in shares of Sealed Air by 118.7% during the 2nd quarter. Nordea Investment Management AB now owns 2,309,254 shares of the industrial products company’s stock valued at $74,058,000 after purchasing an additional 1,253,572 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Sealed Air by 33.4% during the first quarter. Alliancebernstein L.P. now owns 3,183,230 shares of the industrial products company’s stock valued at $78,658,000 after buying an additional 797,605 shares during the last quarter. Finally, FMR LLC increased its holdings in Sealed Air by 4,958.1% during the second quarter. FMR LLC now owns 577,886 shares of the industrial products company’s stock valued at $18,984,000 after buying an additional 566,461 shares during the last quarter. 91.55% of the stock is currently owned by institutional investors.

About Sealed Air

Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.

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Analyst Recommendations for Sealed Air (NYSE:SEE)

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