Silgan Holdings Stock Rating Lowered by Longbow Research (SLGN)
Silgan Holdings (NASDAQ:SLGN) was downgraded by stock analysts at Longbow Research from a “neutral” rating to an “underperform” rating in a report issued on Friday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on SLGN. Analysts at Barclays cut their price target on shares of Silgan Holdings from $46.00 to $45.00 in a research note to investors on Monday. Separately, analysts at Bank of America Corp. downgraded shares of Silgan Holdings from a “buy” rating to a “neutral” rating in a research note to investors on Friday, November 15th. Finally, analysts at Bank of America Corp. downgraded shares of Silgan Holdings from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, November 15th. They now have a $49.00 price target on the stock. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $46.50.
Silgan Holdings (NASDAQ:SLGN) traded up 0.59% on Friday, hitting $45.84. The stock had a trading volume of 418,106 shares. Silgan Holdings has a one year low of $42.44 and a one year high of $50.51. The stock has a 50-day moving average of $46.88 and a 200-day moving average of $47.11. The company has a market cap of $2.909 billion and a P/E ratio of 15.88.
Silgan Holdings (NASDAQ:SLGN) last released its earnings data on Monday, January 27th. The company reported $0.45 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.49 by $0.04. The company had revenue of $864.80 million for the quarter, compared to the consensus estimate of $885.07 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts predict that Silgan Holdings will post $3.16 earnings per share for the current fiscal year.
Silgan Holdings Inc is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products.
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