Sealed Air Corporation (NYSE:SEE) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
SEE has been the subject of a number of other reports. Royal Bank Of Canada reissued a “buy” rating and set a $52.00 price target on shares of Sealed Air Corporation in a research note on Tuesday, April 11th. TheStreet lowered Sealed Air Corporation from a “b” rating to a “c+” rating in a research note on Tuesday, May 9th. Credit Suisse Group set a $50.00 price target on Sealed Air Corporation and gave the company a “buy” rating in a research note on Thursday, May 11th. Jefferies Group LLC dropped their price target on Sealed Air Corporation from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Wednesday, May 10th. Finally, Zacks Investment Research lowered Sealed Air Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Eight research analysts have rated the stock with 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 price target of $48.91.
Sealed Air Corporation (NYSE:SEE) traded down 0.88% on Monday, hitting $45.30. The stock had a trading volume of 1,409,082 shares. The firm has a 50-day moving average of $45.15 and a 200 day moving average of $45.52. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of 26.03 and a beta of 1.17. Sealed Air Corporation has a 52 week low of $41.74 and a 52 week high of $50.62.
Sealed Air Corporation (NYSE:SEE) last announced its quarterly earnings results on Tuesday, May 9th. The industrial products company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by $0.03. Sealed Air Corporation had a net margin of 5.48% and a return on equity of 85.72%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the company posted $0.50 earnings per share. Sealed Air Corporation’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts predict that Sealed Air Corporation will post $1.79 earnings per share for the current year.
Sealed Air Corporation announced that its Board of Directors has authorized a stock repurchase program on Monday, March 27th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 17.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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In other Sealed Air Corporation news, insider Emile Z. Chammas purchased 3,000 shares of Sealed Air Corporation stock in a transaction dated Tuesday, May 16th. The shares were purchased at an average cost of $43.09 per share, for a total transaction of $129,270.00. Following the completion of the acquisition, the insider now owns 148,077 shares in the company, valued at approximately $6,380,637.93. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jerome A. Peribere acquired 6,960 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was purchased at an average cost of $42.97 per share, for a total transaction of $299,071.20. Following the purchase, the insider now owns 199,000 shares of the company’s stock, valued at $8,551,030. The disclosure for this purchase can be found here. Corporate insiders own 0.86% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bridgewater Associates LP purchased a new position in shares of Sealed Air Corporation during the first quarter valued at about $1,230,000. Bank of New York Mellon Corp boosted its position in shares of Sealed Air Corporation by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 1,788,451 shares of the industrial products company’s stock valued at $77,943,000 after buying an additional 23,184 shares during the period. Baldwin Brothers Inc. MA boosted its position in shares of Sealed Air Corporation by 61,387.8% in the first quarter. Baldwin Brothers Inc. MA now owns 180,774 shares of the industrial products company’s stock valued at $7,878,000 after buying an additional 180,480 shares during the period. Family Legacy Inc. purchased a new position in shares of Sealed Air Corporation during the first quarter valued at about $229,000. Finally, Oxford Asset Management purchased a new position in shares of Sealed Air Corporation during the first quarter valued at about $18,130,000. 90.55% of the stock is currently owned by institutional investors.
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, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing a range of integrated system solutions.
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