In a report released today, Adam Josephson from KeyBanc maintained a Hold rating on Sealed Air (NYSE: SEE). The company’s shares opened today at $42.93.
Josephson wrote:
“We are slightly increasing our 2018 adjusted EBITDA estimate from $895 million to $900 million (at the midpoint of guidance of $890 million to $910 million) and our 2019 EBITDA estimate from $915 million to $920 million (consensus is $951 million); we are moving to the midpoint of guidance for 2018 following the Company’s slight beat in 2Q. For 2019, we assume a minimal EBITDA contribution from just-acquired AFP (~$5 million), such that the majority of our assumed $20 million of EBITDA growth is organic. We realize our assumed rate of organic EBITDA growth for 2019 is lower than that in 2018, but we also note that SEE’s EBITDA was essentially flat in the previous two years. At the midpoint of its 2018 EBITDA guidance, SEE is trading at 11.2x EV/EBITDA, roughly in line with the five-year average. We think the valuation is fair.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 7.4% and a 63.3% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.
Sealed Air has an analyst consensus of Strong Buy, with a price target consensus of $52.
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The company has a one-year high of $49.94 and a one-year low of $40.76. Currently, Sealed Air has an average volume of 1.6M.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock.
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Sealed Air Corp. engages in the provision of food safety and security, facility hygiene and product protection services. It operates through the following segments: Food Care, Diversey Care, Product Care, and Other.
