SunTrust Banks Reaffirms Buy Rating for Sealed Air (NYSE:SEE)

SunTrust Banks restated their buy rating on shares of Sealed Air (NYSE:SEE) in a research note published on Friday, November 17th. The firm currently has a $49.00 price target on the industrial products company’s stock. SunTrust Banks also issued estimates for Sealed Air’s FY2017 earnings at $1.77 EPS, Q3 2018 earnings at $0.60 EPS, Q4 2018 earnings at $0.64 EPS and FY2018 earnings at $2.29 EPS.

A number of other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Sealed Air from a hold rating to a sell rating in a report on Wednesday, August 2nd. BMO Capital Markets reaffirmed a hold rating and set a $47.00 target price on shares of Sealed Air in a research note on Thursday, July 20th. Barclays reaffirmed an equal weight rating and set a $45.00 target price on shares of Sealed Air in a research note on Tuesday, September 19th. Bank of America raised shares of Sealed Air from a neutral rating to a buy rating and set a $48.00 target price for the company in a research note on Thursday, September 21st. Finally, Royal Bank Of Canada reaffirmed a hold rating and set a $45.00 target price on shares of Sealed Air in a research note on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Sealed Air presently has an average rating of Hold and an average price target of $48.83.

Sealed Air (NYSE:SEE) opened at $47.74 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 4.23. The firm has a market cap of $8,611.63, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 6.62 and a beta of 1.23. Sealed Air has a 12-month low of $41.22 and a 12-month high of $50.62.

Sealed Air (NYSE:SEE) last issued its earnings results on Wednesday, November 8th. The industrial products company reported $0.46 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.46. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Sealed Air had a net margin of 20.15% and a return on equity of 67.60%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. equities analysts predict that Sealed Air will post 1.8 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 1.34%. Sealed Air’s dividend payout ratio (DPR) is 12.19%.

In other Sealed Air 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 transaction of $150,185.00. Following the sale, the director now owns 38,180 shares of the company’s stock, valued at $1,638,303.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Emile Z. Chammas sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $45.24, for a total transaction of $271,440.00. Following the sale, the senior vice president now directly owns 142,077 shares in the company, valued at approximately $6,427,563.48. The disclosure for this sale can be found here. 1.05% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. HighTower Advisors LLC grew its position in Sealed Air by 10.8% in the 2nd quarter. HighTower Advisors LLC now owns 7,859 shares of the industrial products company’s stock valued at $351,000 after buying an additional 769 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Sealed Air by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 858,823 shares of the industrial products company’s stock valued at $38,442,000 after buying an additional 20,144 shares during the last quarter. Legal & General Group Plc grew its position in Sealed Air by 5.6% in the 2nd quarter. Legal & General Group Plc now owns 949,170 shares of the industrial products company’s stock valued at $42,485,000 after buying an additional 50,305 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Sealed Air by 20.4% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 50,479 shares of the industrial products company’s stock valued at $2,259,000 after buying an additional 8,547 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Sealed Air by 1,672.6% in the 2nd quarter. Victory Capital Management Inc. now owns 616,605 shares of the industrial products company’s stock valued at $27,599,000 after buying an additional 581,819 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

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About Sealed Air

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 (NYSE:SEE)

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