Silgan Holdings Inc. (SLGN) Downgraded by BidaskClub to “Strong Sell”
Silgan Holdings Inc. (NASDAQ:SLGN) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.
Several other research analysts also recently issued reports on SLGN. Bank of America Corporation downgraded Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research note on Thursday, July 27th. Robert W. Baird cut Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 target price on the stock. in a report on Wednesday, July 19th. KeyCorp reiterated a “hold” rating on shares of Silgan Holdings in a report on Wednesday, April 26th. 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. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $34.00 target price on shares of Silgan Holdings in a report on Sunday, July 9th. Two investment 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. Silgan Holdings currently has a consensus rating of “Hold” and a consensus price target of $31.36.
Shares of Silgan Holdings (NASDAQ SLGN) traded up 0.92% on Tuesday, hitting $30.88. 141,564 shares of the stock traded hands. The stock has a market cap of $3.41 billion, a PE ratio of 24.53 and a beta of 0.54. The stock has a 50 day moving average of $31.63 and a 200-day moving average of $50.69. Silgan Holdings has a 1-year low of $23.58 and a 1-year high of $32.50.
Silgan Holdings (NASDAQ:SLGN) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The firm’s revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts expect that Silgan Holdings will post $1.66 EPS for the current year.
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In other Silgan Holdings 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP B Frederik Prinzen sold 3,204 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $62.28, for a total value of $199,545.12. The disclosure for this sale can be found here. 33.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its position in 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 last quarter. NN Investment Partners Holdings N.V. acquired a new position in Silgan Holdings during the second quarter worth about $127,000. Envestnet Asset Management Inc. boosted its position in 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 last quarter. Victory Capital Management Inc. acquired a new position in Silgan Holdings during the second quarter worth about $140,000. Finally, Pacer Advisors Inc. boosted its position in 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 last quarter. 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.
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