Sealed Air (NYSE:SEE) Cut to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada lowered shares of Sealed Air (NYSE:SEE) from an outperform rating to a sector perform rating in a report published on Friday, MarketBeat.com reports. The firm currently has $40.00 price objective on the industrial products company’s stock, down from their prior price objective of $43.00.

A number of other research analysts also recently weighed in on SEE. StockNews.com downgraded Sealed Air from a buy rating to a hold rating in a research note on Wednesday, July 3rd. William Blair reissued a market perform rating on shares of Sealed Air in a research note on Thursday, May 2nd. Citigroup cut their price target on Sealed Air from $44.00 to $43.00 and set a buy rating on the stock in a research note on Monday, July 8th. UBS Group dropped their price objective on Sealed Air from $39.00 to $38.00 and set a neutral rating on the stock in a research note on Wednesday, July 17th. Finally, Truist Financial reaffirmed a buy rating and set a $44.00 price objective on shares of Sealed Air in a research note on Monday, June 17th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $43.33.

Sealed Air Stock Up 2.3 %

NYSE SEE opened at $36.07 on Friday. The firm has a market cap of $5.25 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 4.31 and a beta of 1.35. Sealed Air has a one year low of $28.50 and a one year high of $47.12. The stock’s 50 day simple moving average is $36.82 and its 200 day simple moving average is $35.72. The company has a debt-to-equity ratio of 7.49, a current ratio of 1.33 and a quick ratio of 0.80.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.25. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.74 EPS. As a group, sell-side analysts forecast that Sealed Air will post 2.86 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, June 14th. Sealed Air’s dividend payout ratio is 32.13%.

Institutional Trading of Sealed Air

Hedge funds and other institutional investors have recently modified their holdings of the company. CVA Family Office LLC acquired a new stake in shares of Sealed Air in the 4th quarter valued at about $27,000. Bruce G. Allen Investments LLC bought a new position in shares of Sealed Air in the 4th quarter valued at about $29,000. Fidelis Capital Partners LLC bought a new position in shares of Sealed Air in the 1st quarter valued at about $31,000. Allspring Global Investments Holdings LLC bought a new position in shares of Sealed Air in the 1st quarter valued at about $52,000. Finally, Signaturefd LLC grew its holdings in shares of Sealed Air by 43.2% in the 4th quarter. Signaturefd LLC now owns 1,531 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 462 shares in the last quarter. Institutional investors and hedge funds own 94.40% 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 New Zealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety, 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, fluids and liquids and cheese markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps, and Optidure brands.