Sealed Air Corp. Rating Increased to Outperform at Zacks (SEE)
Sealed Air Corp. (NYSE:SEE) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday, StockRatingsNetwork.com reports. The firm currently has a $36.00 price objective on the stock. Zacks‘ price target indicates a potential upside of 18.73% from the company’s current price.
Zacks‘ analyst wrote, “Sealed Air’s second-quarter adjusted net earnings more than doubled to $0.35 a share from prior-year quarter, helped by strong growth in Asia, Middle East, Africa and Turkey (AMAT) and Latin America, and modest growth in North America, margin expansion in the Food & Beverage and Institutional & Laundry divisions, benefits from pricing initiatives, and focus on manufacturing and operational improvements. Sealed Air will benefit from cost savings from its ongoing Integration & Optimization Program as well as its recent additional restructuring plan. The Diversey acquisition in 2011 has enhanced the company’s growth profile. Price increases in the second half will help offset raw material inflation. We have upgraded or recommendation from Neutral to Outperform with a target price of $36.00.”
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital raised their price target on shares of Sealed Air Corp. (NYSE:SEE) from $28.00 to $35.00 in a research note to investors on Tuesday, August 6th. Separately, analysts at Jefferies Group raised their price target on shares of Sealed Air Corp. (NYSE:SEE) from $30.00 to $35.00 in a research note to investors on Monday, August 5th. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Sealed Air Corp. (NYSE:SEE) in a research note to investors on Monday, August 5th. They now have a $29.00 price target on the stock, up previously from $19.00.
One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $30.11.
Shares of Sealed Air Corp. (NYSE:SEE) traded down 1.62% during mid-day trading on Thursday, hitting $29.83. 3,921,024 shares of the company’s stock traded hands. Sealed Air Corp. has a 1-year low of $15.10 and a 1-year high of $31.20. The stock has a 50-day moving average of $29.45 and a 200-day moving average of $25.28. The company’s market cap is $5.843 billion.
Sealed Air Corp. (NYSE:SEE) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.35 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.25 by $0.10. The company had revenue of $2.00 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the company posted $0.20 earnings per share. Sealed Air Corp.’s revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that Sealed Air Corp. will post $1.21 earnings per share for the current fiscal year.
In other Sealed Air Corp. news, Treasurer Tod S. Christie sold 10,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $30.09, for a total transaction of $300,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business.
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