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 $32.50, close to its 52-week low of $31.50.
Josephson noted:
“We are reducing our estimates for Sealed Air (SEE) following its negative preannouncement earlier this week; see our note for more details. We are reducing our 2018 adjusted EBITDA estimate from $900M to $875M (in line with the guided-to range) and our 2019 adjusted EBITDA estimate from $920M to $895M. We have consistently been below consensus for SEE in 2019, and we remain so. On our free cash flow estimates, we are going from $400M to $350M in 2018 (same as guidance) and from $420M to $375M for 2019.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 7.9% and a 66.2% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sealed Air with a $43.25 average price target, a 33.1% upside from current levels. In a report released yesterday, Merrill Lynch also downgraded the stock to Hold with a $40 price target.
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The company has a one-year high of $49.94 and a one-year low of $31.50. Currently, Sealed Air has an average volume of 2.01M.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SEE in relation to earlier this year.
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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.
