Sealed Air (NYSE:SEE – Free Report) had its target price cut by JPMorgan Chase & Co. from $42.00 to $38.00 in a research report released on Friday morning, MarketBeat.com reports. They currently have a neutral rating on the industrial products company’s stock.
Other analysts also recently issued reports about the stock. Mizuho cut their price target on shares of Sealed Air from $49.00 to $46.00 in a research report on Thursday, August 10th. Truist Financial decreased their price target on shares of Sealed Air from $48.00 to $43.00 and set a hold rating for the company in a report on Friday, August 11th. Bank of America raised Sealed Air from a neutral rating to a buy rating and dropped their price objective for the stock from $61.00 to $52.00 in a research note on Monday, July 10th. Robert W. Baird raised Sealed Air from a neutral rating to an outperform rating and set a $49.00 target price for the company in a research note on Wednesday, July 12th. Finally, StockNews.com started coverage on Sealed Air in a research report on Thursday. They set a hold rating on the stock. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $46.27.
Get Our Latest Analysis on Sealed Air
Sealed Air Stock Down 2.6 %
Sealed Air (NYSE:SEE – Get Free Report) last issued its earnings results on Tuesday, August 8th. The industrial products company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.68 by $0.12. Sealed Air had a net margin of 7.04% and a return on equity of 154.56%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, sell-side analysts forecast that Sealed Air will post 2.87 earnings per share for the current year.
Institutional Investors Weigh In On Sealed Air
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Sealed Air by 97,798.1% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 266,885,887 shares of the industrial products company’s stock worth $10,675,435,000 after buying an additional 266,613,271 shares during the last quarter. BlackRock Inc. increased its stake in shares of Sealed Air by 9.3% during the 2nd quarter. BlackRock Inc. now owns 26,970,618 shares of the industrial products company’s stock worth $1,078,825,000 after purchasing an additional 2,291,607 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Sealed Air by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 16,576,676 shares of the industrial products company’s stock valued at $737,828,000 after purchasing an additional 97,907 shares during the period. State Street Corp lifted its stake in Sealed Air by 1.2% in the 2nd quarter. State Street Corp now owns 6,191,143 shares of the industrial products company’s stock valued at $247,646,000 after purchasing an additional 75,359 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Sealed Air by 7.8% during the first quarter. Bank of America Corp DE now owns 3,261,503 shares of the industrial products company’s stock worth $149,736,000 after purchasing an additional 237,391 shares during the period. Institutional investors own 87.91% 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 NewZealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.
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