Sealed Air (NYSE:SEE) Now Covered by Truist

Stock analysts at Truist initiated coverage on shares of Sealed Air (NYSE:SEE) in a note issued to investors on Monday, The Fly reports. The firm set a “buy” rating and a $72.00 price target on the industrial products company’s stock. Truist’s target price would indicate a potential upside of 23.82% from the company’s current price.

SEE has been the subject of several other reports. Zacks Investment Research downgraded Sealed Air from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research note on Monday, September 6th. Morgan Stanley increased their price objective on Sealed Air from $52.00 to $61.00 and gave the company an “equal weight” rating in a research note on Thursday, August 5th. Robert W. Baird reaffirmed a “buy” rating and issued a $72.00 target price on shares of Sealed Air in a research note on Friday, September 10th. BMO Capital Markets raised their target price on Sealed Air from $52.00 to $62.00 and gave the stock a “market perform” rating in a research note on Thursday, August 5th. They noted that the move was a valuation call. Finally, William Blair began coverage on Sealed Air in a research note on Monday, August 23rd. They issued an “outperform” rating for the company. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Sealed Air presently has an average rating of “Buy” and an average price target of $60.13.

Shares of NYSE:SEE opened at $58.15 on Monday. Sealed Air has a 1 year low of $36.27 and a 1 year high of $62.04. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26. The company has a debt-to-equity ratio of 39.57, a current ratio of 1.29 and a quick ratio of 0.77. The business’s 50 day moving average price is $58.47 and its 200-day moving average price is $54.24.

Sealed Air (NYSE:SEE) last announced its earnings results on Monday, August 2nd. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Sealed Air had a return on equity of 519.84% and a net margin of 9.56%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the firm posted $0.76 EPS. The business’s revenue was up 15.4% on a year-over-year basis. On average, sell-side analysts expect that Sealed Air will post 3.55 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in SEE. BlackRock Inc. boosted its stake in shares of Sealed Air by 42.3% in the 2nd quarter. BlackRock Inc. now owns 14,864,594 shares of the industrial products company’s stock valued at $880,726,000 after buying an additional 4,421,874 shares during the period. Bank of America Corp DE boosted its stake in shares of Sealed Air by 55.1% in the 2nd quarter. Bank of America Corp DE now owns 2,391,435 shares of the industrial products company’s stock valued at $141,693,000 after buying an additional 849,709 shares during the period. Janus Henderson Group PLC raised its position in shares of Sealed Air by 6.9% during the 1st quarter. Janus Henderson Group PLC now owns 11,360,362 shares of the industrial products company’s stock worth $520,532,000 after acquiring an additional 731,840 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of Sealed Air by 60.0% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 1,872,783 shares of the industrial products company’s stock worth $85,811,000 after acquiring an additional 702,384 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Sealed Air by 267.3% during the 2nd quarter. Morgan Stanley now owns 896,378 shares of the industrial products company’s stock worth $53,110,000 after acquiring an additional 652,353 shares in the last quarter. Institutional investors and hedge funds own 90.00% of the company’s stock.

About Sealed Air

Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment serves the perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.

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