KeyBanc analyst Adam Josephson reiterated a Hold rating on Sealed Air (SEE) today. The company’s shares opened today at $44.27, close to its 52-week high of $46.21.
Josephson wrote:
“We are increasing our 2019 adj. EBITDA estimate from $895 million to $933 million (guidance is $925 million-$945 million) and introducing a 2020 estimate of the same (consensus is $975 million). However, our 2019 free cash flow estimate is going from $375 million to $250 million (in line with guidance), and we are introducing a 2020 estimate of the same given continued high cash restructuring costs.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 8.1% and a 64.8% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.
Currently, the analyst consensus on Sealed Air is a Moderate Buy with an average price target of $41.25.
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The company has a one-year high of $46.21 and a one-year low of $30.22. Currently, Sealed Air has an average volume of 2M.
Based on the recent corporate insider activity of 31 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.
