Silgan Holdings’ (SLGN) “Hold” Rating Reaffirmed at Robert W. Baird
Robert W. Baird reiterated their hold rating on shares of Silgan Holdings Inc. (NASDAQ:SLGN) in a research note published on Friday morning. The firm currently has a $32.00 target price on the industrial products company’s stock.
Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of Silgan Holdings from a buy rating to a hold rating in a research note on Tuesday, July 25th. BMO Capital Markets reaffirmed a buy rating and issued a $34.00 price target on shares of Silgan Holdings in a research note on Monday, September 18th. ValuEngine lowered shares of Silgan Holdings from a buy rating to a hold rating in a research note on Friday, September 1st. Bank of America Corporation lowered shares of Silgan Holdings from a buy rating to a neutral rating and set a $35.00 price target on the stock. in a research note on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of Silgan Holdings from a hold rating to a sell rating in a research note on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $31.57.
Silgan Holdings (NASDAQ SLGN) opened at 28.97 on Friday. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 23.01 and a beta of 0.53. The firm has a 50-day moving average of $29.12 and a 200 day moving average of $30.47. Silgan Holdings has a 1-year low of $24.36 and a 1-year high of $32.50.
Silgan Holdings (NASDAQ:SLGN) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.03). Silgan Holdings had a net margin of 3.77% and a return on equity of 32.87%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm posted $0.61 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Analysts expect that Silgan Holdings will post $1.64 earnings per share for the current fiscal year.
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In other news, VP Robert B. Lewis sold 7,000 shares of Silgan Holdings stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $29.70, for a total value of $207,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas James Snyder sold 10,506 shares of Silgan Holdings stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $30.78, for a total transaction of $323,374.68. The disclosure for this sale can be found here. Insiders sold 19,698 shares of company stock worth $597,429 over the last quarter. 33.10% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings 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 valued at $139,000 after purchasing an additional 207 shares during the last quarter. KCG Holdings Inc. acquired a new stake in shares of Silgan Holdings in the first quarter valued at approximately $207,000. Bank of Montreal Can raised its holdings 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 valued at $124,000 after purchasing an additional 1,847 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Silgan Holdings in the second quarter valued at approximately $127,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Silgan Holdings in the second quarter valued at approximately $140,000. Institutional investors own 66.53% of the company’s stock.
Silgan Holdings Company Profile
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.
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