Sealed Air Corporation (SEE) Rating Lowered to Sell at Zacks Investment Research
Sealed Air Corporation (NYSE:SEE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “Sealed Air’s results in APAC will be impacted as the Australia /New Zealand region rebuilds cattle herds and ban on Brazil beef exports will impact Latin American volumes. The Diversey sale will be substantially dilutive to earnings as the company is now projecting earnings per share of $1.75 to $1.80 for 2017, down from the earlier guidance of $2.70 per share (pre-sale). Sealed Air generates around 33% of its total company sales from the European region. Sealed Air anticipates that the recent geopolitical events in Europe and the Middle East to have an effect on its business. Also, costs associated with various restructuring actions underway will strain margins. the company has a negative record of earnings surprise.”
Several other equities research analysts have also recently issued reports on SEE. Royal Bank Of Canada restated a “hold” rating and set a $44.00 price objective on shares of Sealed Air Corporation in a research report on Tuesday, June 13th. Robert W. Baird restated an “outperform” rating and set a $55.00 price objective on shares of Sealed Air Corporation in a research report on Tuesday, June 13th. BidaskClub upgraded shares of Sealed Air Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. BMO Capital Markets restated a “hold” rating and set a $47.00 price objective on shares of Sealed Air Corporation in a research report on Thursday, July 20th. Finally, Jefferies Group LLC restated a “hold” rating and set a $44.00 price objective on shares of Sealed Air Corporation in a research report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Sealed Air Corporation has an average rating of “Hold” and an average price target of $48.33.
Shares of Sealed Air Corporation (NYSE:SEE) opened at 44.01 on Tuesday. The company has a market capitalization of $8.36 billion, a P/E ratio of 22.74 and a beta of 1.17. The stock has a 50 day moving average of $43.58 and a 200-day moving average of $44.17. Sealed Air Corporation has a 12-month low of $41.22 and a 12-month high of $50.62.
Sealed Air Corporation (NYSE:SEE) last issued its earnings results on Tuesday, August 8th. The industrial products company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. Sealed Air Corporation had a net margin of 6.81% and a return on equity of 84.32%. Sealed Air Corporation’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.65 earnings per share. Equities research analysts forecast that Sealed Air Corporation will post $1.83 EPS for the current year.
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In other Sealed Air Corporation news, Director Lawrence R. Codey sold 3,500 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $42.91, for a total transaction of $150,185.00. Following the completion of the transaction, the director now owns 38,180 shares of the company’s stock, valued at $1,638,303.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.05% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Fiduciary Trust Co. purchased a new position in shares of Sealed Air Corporation in the second quarter valued at approximately $124,000. Global X Management Co. LLC boosted its stake in shares of Sealed Air Corporation by 30.4% in the first quarter. Global X Management Co. LLC now owns 2,950 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 687 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Sealed Air Corporation by 3.0% in the first quarter. Pacer Advisors Inc. now owns 3,979 shares of the industrial products company’s stock valued at $173,000 after purchasing an additional 116 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in shares of Sealed Air Corporation in the second quarter valued at approximately $201,000. Finally, FNY Partners Fund LP purchased a new position in shares of Sealed Air Corporation in the first quarter valued at approximately $196,000. 92.12% of the stock is owned by institutional investors and hedge funds.
About Sealed Air Corporation
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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