Zacks Investment Research Upgrades Sealed Air Corporation (SEE) to “Hold”

Sealed Air Corporation (NYSE:SEE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “Sealed Air’s third-quarter revenues and adjusted earnings improved on a year-over-year basis. While earnings came in line with the Zacks Consensus Estimate, revenues topped the same. Sealed Air projects sales of $4.4 billion in 2017 and adjusted EPS in the range of $1.75-$1.80. The Diversey sale is expected to help focus on the Food Care and Product Care divisions. The acquisitions of Deltaplam and Fagerdala will likely expand the company's geographic presence. Even though restructuring actions, investments in R&D are anticipated to drive future growth, it might affect margins in the near term. Also weak volumes in Australia/New Zealand remain a concern. Moreover, Sealed Air has underperformed its industry in the past year. However, the company is expected to gain from enhanced demand for core product portfolio, recently-introduced innovations, growth in the global protein market and e-Commerce.”

Several other equities analysts also recently weighed in on SEE. BMO Capital Markets restated a “hold” rating and set a $47.00 target price on shares of Sealed Air Corporation in a report on Thursday, July 20th. BidaskClub downgraded shares of Sealed Air Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC restated a “hold” rating and set a $44.00 target price on shares of Sealed Air Corporation in a report on Friday, August 11th. Robert W. Baird restated a “buy” rating and set a $55.00 target price on shares of Sealed Air Corporation in a report on Friday, September 1st. Finally, Citigroup Inc. downgraded shares of Sealed Air Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $52.00 to $47.00 in a report on Thursday, September 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Sealed Air Corporation presently has a consensus rating of “Hold” and a consensus target price of $48.75.

Sealed Air Corporation (NYSE:SEE) traded down $0.42 during trading hours on Monday, reaching $44.35. 2,340,500 shares of the company’s stock traded hands, compared to its average volume of 2,168,431. The company has a debt-to-equity ratio of 4.23, a current ratio of 1.70 and a quick ratio of 1.34. Sealed Air Corporation has a 52-week low of $41.22 and a 52-week high of $50.62. The stock has a market cap of $10,200.34, a P/E ratio of 22.17, a P/E/G ratio of 6.17 and a beta of 1.21.

Sealed Air Corporation (NYSE:SEE) last posted its earnings results on Wednesday, November 8th. The industrial products company reported $0.46 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. Sealed Air Corporation had a net margin of 20.15% and a return on equity of 67.60%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. sell-side analysts predict that Sealed Air Corporation will post 1.8 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Zacks Investment Research Upgrades Sealed Air Corporation (SEE) to “Hold”” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another publication, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this article can be read at https://ledgergazette.com/2017/11/13/zacks-investment-research-upgrades-sealed-air-corporation-see-to-hold.html.

In related news, Director Lawrence R. Codey sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $42.91, for a total value of $150,185.00. Following the sale, the director now directly owns 38,180 shares of the company’s stock, valued at $1,638,303.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.05% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC boosted its position in shares of Sealed Air Corporation by 10.8% in the second quarter. HighTower Advisors LLC now owns 7,859 shares of the industrial products company’s stock worth $351,000 after acquiring an additional 769 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Sealed Air Corporation by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 858,823 shares of the industrial products company’s stock worth $38,442,000 after acquiring an additional 20,144 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Sealed Air Corporation by 5.6% in the second quarter. Legal & General Group Plc now owns 949,170 shares of the industrial products company’s stock worth $42,485,000 after acquiring an additional 50,305 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Sealed Air Corporation by 20.4% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 50,479 shares of the industrial products company’s stock worth $2,259,000 after acquiring an additional 8,547 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Sealed Air Corporation by 1,672.6% in the second quarter. Victory Capital Management Inc. now owns 616,605 shares of the industrial products company’s stock worth $27,599,000 after acquiring an additional 581,819 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

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 (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.

Analyst Recommendations for Sealed Air Corporation (NYSE:SEE)

Receive News & Ratings for Sealed Air Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply