Silgan Holdings Stock Rating Reaffirmed by Zacks (SLGN)
Silgan Holdings (NASDAQ:SLGN)‘s stock had its “neutral” rating restated by Zacks in a report released on Friday. They currently have a $53.00 price target on the stock. Zacks‘s price target would indicate a potential upside of 3.39% from the stock’s previous close.
Zacks’ analyst wrote, “We have reiterated our Neutral recommendation on Silgan Holdings with a target price of $53.00. Earnings increased 14% year over year to $0.73 per share in the first quarter of 2014. The company guided adjusted EPS to between $3.10 and $3.30 for 2014, reflecting 13% to 20% y-o-y growth. Silgan will benefit from its successful acquisition of Portola Packaging in Oct 2013. The acquisition will enhance Silgan’s Closure business and also enable expansion of its plastic closures offerings in Europe. Geographic expansion will also help in long-term growth. Increasing productivity and cost reduction initiatives, such as the Can Vision 2020, will also drive growth. However, high debt-to-capitalization ratio remains a concern.”
Silgan Holdings (NASDAQ:SLGN) traded up 1.02% during mid-day trading on Friday, hitting $51.26. The stock had a trading volume of 166,455 shares. Silgan Holdings has a one year low of $43.77 and a one year high of $51.86. The stock has a 50-day moving average of $50.44 and a 200-day moving average of $48.9. The company has a market cap of $3.256 billion and a price-to-earnings ratio of 18.43.
Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06. The company had revenue of $917.30 million for the quarter, compared to the consensus estimate of $934.11 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts expect that Silgan Holdings will post $3.18 EPS for the current fiscal year.
Separately, analysts at Macquarie reiterated a “neutral” rating on shares of Silgan Holdings in a research note on Thursday. They now have a $52.00 price target on the stock, up previously from $51.00. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $49.83.
Silgan Holdings Inc is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products.
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