Silgan (SLGN) Upgraded by BidaskClub to Hold

Silgan (NASDAQ:SLGN) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Silgan from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Monday, December 31st. Citigroup raised shares of Silgan from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Barclays raised shares of Silgan from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. TheStreet downgraded shares of Silgan from a “b-” rating to a “c+” rating in a report on Wednesday, November 14th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Silgan in a report on Wednesday, October 24th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Silgan currently has a consensus rating of “Hold” and a consensus price target of $28.83.

SLGN opened at $25.62 on Thursday. The company has a market capitalization of $2.77 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 1.09 and a beta of 0.72. Silgan has a 12 month low of $22.24 and a 12 month high of $31.05. The company has a quick ratio of 0.70, a current ratio of 1.17 and a debt-to-equity ratio of 2.40.

Silgan (NASDAQ:SLGN) last released its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $0.76 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Silgan had a net margin of 7.59% and a return on equity of 26.91%. Silgan’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $0.66 EPS. On average, equities analysts expect that Silgan will post 2.05 earnings per share for the current year.

In other news, Director William T. Donovan purchased 5,000 shares of the business’s stock in a transaction on Monday, October 29th. The stock was purchased at an average cost of $23.75 per share, with a total value of $118,750.00. Following the acquisition, the director now directly owns 8,235 shares in the company, valued at $195,581.25. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert B. Lewis sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $23.86, for a total transaction of $238,600.00. Following the completion of the transaction, the chief financial officer now directly owns 398,063 shares of the company’s stock, valued at $9,497,783.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,040 shares of company stock valued at $1,851,055. Insiders own 30.32% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Clearbridge Investments LLC purchased a new stake in shares of Silgan during the 3rd quarter valued at $16,055,000. Walthausen & Co. LLC purchased a new stake in shares of Silgan during the 3rd quarter valued at $12,179,000. WINTON GROUP Ltd purchased a new stake in shares of Silgan during the 3rd quarter valued at $10,035,000. FMR LLC raised its position in shares of Silgan by 2.6% during the 2nd quarter. FMR LLC now owns 13,207,468 shares of the industrial products company’s stock valued at $354,357,000 after buying an additional 330,350 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Silgan by 4.2% during the 3rd quarter. BlackRock Inc. now owns 6,814,304 shares of the industrial products company’s stock valued at $189,436,000 after buying an additional 276,073 shares in the last quarter. 67.46% of the stock is owned by hedge funds and other institutional investors.

Silgan Company Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

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Analyst Recommendations for Silgan (NASDAQ:SLGN)

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