BidaskClub Upgrades Silgan Holdings Inc. (SLGN) to “Sell”

BidaskClub upgraded shares of Silgan Holdings Inc. (NASDAQ:SLGN) from a strong sell rating to a sell rating in a report released on Monday morning.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Silgan Holdings from a sell rating to a hold rating in a report on Monday, April 17th. Deutsche Bank AG restated a hold rating and issued a $30.00 target price (down from $60.00) on shares of Silgan Holdings in a report on Monday, June 5th. ValuEngine upgraded Silgan Holdings from a buy rating to a strong-buy rating in a report on Wednesday, May 31st. BMO Capital Markets restated a buy rating and issued a $34.00 target price on shares of Silgan Holdings in a report on Sunday, July 9th. Finally, Goldman Sachs Group, Inc. (The) cut Silgan Holdings from a neutral rating to a sell rating and set a $30.00 target price on the stock. in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $31.36.

Shares of Silgan Holdings (NASDAQ:SLGN) opened at 30.14 on Monday. Silgan Holdings has a 1-year low of $23.58 and a 1-year high of $32.50. The company’s 50 day moving average price is $31.24 and its 200-day moving average price is $48.53. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 23.94 and a beta of 0.54.

Silgan Holdings (NASDAQ:SLGN) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.35. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. The company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS. Equities analysts expect that Silgan Holdings will post $1.66 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.19%. Silgan Holdings’s dividend payout ratio is 29.03%.

In other news, insider Thomas James Snyder sold 10,506 shares of Silgan Holdings stock in a transaction on Monday, August 14th. The stock was sold at an average price of $30.78, for a total transaction of $323,374.68. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 33.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SLGN. FMR LLC increased its position in shares of Silgan Holdings by 98.3% in the second quarter. FMR LLC now owns 13,086,272 shares of the industrial products company’s stock worth $415,881,000 after buying an additional 6,485,884 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Silgan Holdings by 102.2% in the second quarter. JPMorgan Chase & Co. now owns 7,792,959 shares of the industrial products company’s stock worth $247,661,000 after buying an additional 3,939,145 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Silgan Holdings by 92.5% in the second quarter. Vanguard Group Inc. now owns 7,542,961 shares of the industrial products company’s stock worth $239,715,000 after buying an additional 3,624,183 shares in the last quarter. BlackRock Inc. increased its position in shares of Silgan Holdings by 107.4% in the second quarter. BlackRock Inc. now owns 6,637,734 shares of the industrial products company’s stock worth $210,947,000 after buying an additional 3,437,477 shares in the last quarter. Finally, State Street Corp increased its position in shares of Silgan Holdings by 107.8% in the second quarter. State Street Corp now owns 2,006,227 shares of the industrial products company’s stock worth $63,762,000 after buying an additional 1,040,766 shares in the last quarter. Institutional investors and hedge funds own 38.94% 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.

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