Sealed Air (NYSE:SEE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “Sealed Air’s fourth-quarter earnings and revenues both improved on a year-over-year basis and also beat the respective Zacks Consensus Estimate. For 2018, Sealed Air projects net sales of approximately $4.75-$4.80 billion and adjusted earnings per share in the range of $2.35-$2.45, a 33% increase at the midpoint. While the Food Care segment saw improvement in North America in 2017, growth rate is anticipated to moderate in 2018. Further, adjusted EBITDA margins are likely be in line with 2017 due to elevated raw material costs. Even though restructuring actions, investments in R&D are projected to drive future growth, it might affect margins in the near term. Moreover, stranded costs following the Diversey divestiture remain a concern. Moreover, Sealed Air has underperformed its industry in the past year.”
Several other research firms have also issued reports on SEE. Vertical Research lowered shares of Sealed Air from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. BMO Capital Markets restated a “hold” rating and issued a $50.00 target price on shares of Sealed Air in a report on Thursday, January 25th. SunTrust Banks lowered shares of Sealed Air from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Barclays upgraded shares of Sealed Air from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $46.00 to $53.00 in a report on Friday, December 15th. Finally, TheStreet upgraded shares of Sealed Air from a “c+” rating to a “b-” rating in a report on Thursday, November 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Sealed Air currently has an average rating of “Hold” and an average price target of $50.31.
Sealed Air (NYSE:SEE) last released its earnings results on Thursday, February 8th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion. Sealed Air had a net margin of 17.90% and a return on equity of 74.28%. Sealed Air’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 earnings per share. equities analysts expect that Sealed Air will post 2.4 EPS for the current year.
In other news, CFO William G. Stiehl sold 3,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $48.98, for a total transaction of $146,940.00. Following the transaction, the chief financial officer now owns 34,797 shares in the company, valued at $1,704,357.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Emile Z. Chammas sold 6,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $45.24, for a total transaction of $271,440.00. Following the transaction, the senior vice president now 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 currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SEE. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Sealed Air by 174.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,962,533 shares of the industrial products company’s stock valued at $146,053,000 after purchasing an additional 1,884,070 shares during the period. Wells Fargo & Company MN increased its position in shares of Sealed Air by 35.6% during the fourth quarter. Wells Fargo & Company MN now owns 5,950,396 shares of the industrial products company’s stock worth $293,354,000 after acquiring an additional 1,563,213 shares in the last quarter. Virtus Fund Advisers LLC bought a new stake in shares of Sealed Air during the fourth quarter worth about $41,917,000. Robeco Institutional Asset Management B.V. increased its position in shares of Sealed Air by 152.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,405,835 shares of the industrial products company’s stock worth $69,309,000 after acquiring an additional 848,812 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Sealed Air by 2,108.4% during the fourth quarter. American Century Companies Inc. now owns 885,862 shares of the industrial products company’s stock worth $43,673,000 after acquiring an additional 845,749 shares in the last quarter. Hedge funds and other institutional investors own 90.31% of the company’s stock.
Sealed Air Company Profile
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.
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