In this article we talk about the best packaging stocks to buy now. If you want to read our detailed investment thesis and rationale behind investing in packaging stocks, click and read 10 Best Packaging Stocks to Buy Now.
North Carolina-based Sealed Air is famous for its Cryovac food packaging and Bubble Wrap cushioning packaging brands. In November, the stock was given an upbeat rating by Bank of America on the back of its bullish outlook over the next 5 years. The company’s shares rallied in October 2020 after it beat analysts’ estimates for its third-quarter results. The company reported a non-GAAP EPS of $0.82, surpassing the Street’s forecasts by $0.16. For full-year 2020, Sealed Air expects a revenue of $4.85 billion, above the consensus estimate of $4.78 billion. EPS in the period is expected to come in at $3.05, while analysts were expecting $2.93.
Insider Monkey’s database shows that 31 elite hedge funds had Sealed Air shares in their portfolios entering the fourth quarter, up from 28 funds a quarter earlier.