Sealed Air Corp. (SEE) Shares Gap Up to $46.88
Shares of Sealed Air Corp. (NYSE:SEE) gapped up before the market opened on Tuesday . The stock had previously closed at $46.34, but opened at $46.88. Sealed Air Corp. shares last traded at $47.48, with a volume of 758,997 shares changing hands.
SEE has been the subject of several analyst reports. Zacks Investment Research lowered shares of Sealed Air Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $59.00 price target on shares of Sealed Air Corp. in a research report on Wednesday, June 1st. SunTrust Banks Inc. initiated coverage on shares of Sealed Air Corp. in a research report on Tuesday, July 12th. They set a “buy” rating and a $54.00 price target for the company. Citigroup Inc. raised shares of Sealed Air Corp. from a “neutral” rating to a “buy” rating and increased their price target for the company from $54.00 to $56.00 in a research report on Friday, July 15th. Finally, Jefferies Group reissued a “hold” rating and set a $45.00 price target on shares of Sealed Air Corp. in a research report on Friday, April 29th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $53.82.
The firm has a market cap of $9.37 billion and a P/E ratio of 27.17. The firm has a 50-day moving average of $47.38 and a 200 day moving average of $47.09.
Sealed Air Corp. (NYSE:SEE) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. During the same quarter in the prior year, the firm posted $0.60 EPS. The firm earned $1.70 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Sealed Air Corp.’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts expect that Sealed Air Corp. will post $2.60 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, September 2nd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Wednesday, August 31st.
A number of large investors have recently modified their holdings of the stock. Trexquant Investment LP purchased a new stake in shares of Sealed Air Corp. during the fourth quarter worth $1,022,000. Suntrust Banks Inc. boosted its stake in shares of Sealed Air Corp. by 17.0% in the fourth quarter. Suntrust Banks Inc. now owns 28,213 shares of the company’s stock worth $1,257,000 after buying an additional 4,094 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Sealed Air Corp. by 19.3% in the fourth quarter. Advisors Asset Management Inc. now owns 37,242 shares of the company’s stock worth $1,661,000 after buying an additional 6,032 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Sealed Air Corp. by 452.3% in the fourth quarter. KBC Group NV now owns 119,191 shares of the company’s stock worth $5,316,000 after buying an additional 97,609 shares in the last quarter.
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing processors, retailers and food service operators a range of integrated system solutions.
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