Sealed Air Gets a Hold Rating from KeyBanc

KeyBanc analyst Adam Josephson maintained a Hold rating on Sealed Air (NYSE: SEE) today. The company’s shares opened today at $43.91.

Josephson wrote:

“We are ever so slightly increasing our estimates and maintaining our Sector Weight rating. We think the valuation is sufficiently high at 11.5x EBITDA, and we expect limited upside to consensus estimates for the foreseeable future. Key Investment Points We are slightly increasing our 2018 adjusted EBITDA estimate from $890 million to $895 million (guidance is $890 million to $910 million) and our 2019 adjusted EBITDA estimate from $910 million to $915 million (consensus is $963 million); we are simply moving closer to the midpoint of SEE’s 2018 guidance range following a solid 1Q. Our 2019 adjusted EBITDA estimate remains well below consensus; consensus is assuming ~$60 million of growth (6.5%), which would be the best organic, constant-currency growth the Company would have generated since 2015 (when resin prices fell dramatically, which contributed to a truly substantial price/mix/cost benefit that year).”

According to TipRanks.com, Josephson is a 3-star analyst with an average return of 6.3% and a 56.4% 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 Moderate Buy, with a price target consensus of $50.33.

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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 2.19M.

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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.