Silgan Holdings Inc. (SLGN) Downgraded to “Sell” at BidaskClub
Silgan Holdings Inc. (NASDAQ:SLGN) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Monday, July 31st.
SLGN has been the topic of several other research reports. Robert W. Baird downgraded shares of Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price target on the stock. in a report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) lowered Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price objective on the stock. in a research report on Thursday, July 13th. Zacks Investment Research lowered Silgan Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Bank of America Corporation lowered Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research report on Thursday, July 27th. Finally, BMO Capital Markets restated a “buy” rating and issued a $34.00 price objective on shares of Silgan Holdings in a research report on Sunday, July 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $31.36.
Silgan Holdings (NASDAQ:SLGN) traded up 0.23% during trading on Monday, hitting $30.49. 349,722 shares of the company were exchanged. Silgan Holdings has a 1-year low of $27.98 and a 1-year high of $64.98. The stock has a market capitalization of $3.36 billion, a PE ratio of 24.22 and a beta of 0.54. The firm’s 50 day moving average price is $31.36 and its 200-day moving average price is $49.36.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Silgan Holdings had a net margin of 3.83% and a return on equity of 31.19%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $0.60 EPS. Silgan Holdings’s quarterly revenue was up 16.8% on a year-over-year basis. Equities analysts predict that Silgan Holdings will post $1.66 EPS for the current year.
In other news, VP Adam J. Greenlee sold 5,643 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $61.56, for a total transaction of $347,383.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 33.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its position in shares of Silgan Holdings by 89.3% in the second quarter. Bank of Montreal Can now owns 3,916 shares of the industrial products company’s stock worth $124,000 after buying an additional 1,847 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in shares of Silgan Holdings during the second quarter worth about $127,000. Envestnet Asset Management Inc. raised its position in shares of Silgan Holdings by 9.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock worth $139,000 after buying an additional 207 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Silgan Holdings during the second quarter worth about $140,000. Finally, Pacer Advisors Inc. raised its position in shares of Silgan Holdings by 1.0% in the first quarter. Pacer Advisors Inc. now owns 2,732 shares of the industrial products company’s stock worth $162,000 after buying an additional 27 shares during the period. Hedge funds and other institutional investors own 36.00% of the company’s stock.
About Silgan Holdings
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
Receive News & Ratings for Silgan Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silgan Holdings Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.