Silgan Holdings Upgraded by Zacks to “Neutral” (SLGN)
Silgan Holdings (NASDAQ:SLGN) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Friday, Analyst Ratings Network.com reports. The firm currently has a $50.00 price target on the stock. Zacks‘ target price would indicate a potential upside of 5.26% from the stock’s previous close.
Zacks‘ analyst wrote, “We are upgrading our recommendation on Silgan Holdings from Underperform to Neutral with a target price of $50.00. Silgan’s earnings increased 2.5% year over year to $2.77 per share for full-year 2013, driven by a rise in volumes in the metal container business. However, quarterly earnings declined 4.2% year over year to $0.45 per share. The company guided adjusted EPS in the range of $3.10 to $3.30 for 2014. Silgan will benefit from share repurchases, acquisitions and cost reduction initiatives, such as Can Vision 2020. In addition, continued manufacturing improvement and lower depreciation and pension expense will drive growth. However, high debt-to-capitalization ratio, pricing pressure, adverse weather condition and ongoing economic instability in Europe are likely to remain headwinds over the next few quarters.”
Shares of Silgan Holdings (NASDAQ:SLGN) traded up 0.34% during mid-day trading on Friday, hitting $47.66. 43,243 shares of the company’s stock traded hands. Silgan Holdings has a 52-week low of $42.44 and a 52-week high of $50.51. The stock has a 50-day moving average of $46. and a 200-day moving average of $47.00. The company has a market cap of $3.024 billion and a price-to-earnings ratio of 16.55.
Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. Analysts expect that Silgan Holdings will post $3.17 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Longbow Research downgraded shares of Silgan Holdings from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Analysts at Barclays cut their price target on shares of Silgan Holdings from $46.00 to $45.00 in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.00.
Silgan Holdings Inc is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products.
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