Silgan Holdings Inc. (NASDAQ:SLGN) Stock Rating Lowered by Goldman Sachs Group, Inc. (The)
Silgan Holdings Inc. (NASDAQ:SLGN) was downgraded by research analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “sell” rating in a report issued on Thursday, Marketbeat.com reports. They currently have a $30.00 price objective on the industrial products company’s stock. Goldman Sachs Group, Inc. (The)’s price objective indicates a potential downside of 4.73% from the company’s current price.
Other analysts have also issued research reports about the stock. BMO Capital Markets reiterated a “buy” rating and issued a $32.50 target price on shares of Silgan Holdings in a research report on Monday, March 27th. Barclays PLC lifted their target price on shares of Silgan Holdings from $27.50 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, May 1st. Zacks Investment Research lowered shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub lowered shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $30.00 target price (down previously from $60.00) on shares of Silgan Holdings in a research report on Monday, June 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $29.42.
Shares of Silgan Holdings (NASDAQ SLGN) traded up 0.67% during mid-day trading on Thursday, reaching $31.49. 409,059 shares of the company’s stock traded hands. Silgan Holdings has a 12-month low of $23.58 and a 12-month high of $32.50. The company’s 50 day moving average is $42.17 and its 200 day moving average is $53.91. The company has a market cap of $3.47 billion, a P/E ratio of 24.72 and a beta of 0.55.
Silgan Holdings (NASDAQ:SLGN) last announced its earnings results on Wednesday, April 26th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. Silgan Holdings had a net margin of 4.14% and a return on equity of 28.84%. The business had revenue of $805.40 million for the quarter, compared to analyst estimates of $795.58 million. During the same quarter last year, the business earned $0.23 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts predict that Silgan Holdings will post $1.59 EPS for the current fiscal year.
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In other news, VP B Frederik Prinzen sold 3,204 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $62.28, for a total value of $199,545.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Adam J. Greenlee sold 5,643 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $61.56, for a total transaction of $347,383.08. The disclosure for this sale can be found here. Company insiders own 33.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased 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 valued at $139,000 after buying an additional 207 shares in the last quarter. Pacer Advisors Inc. increased 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 valued at $162,000 after buying an additional 27 shares in the last quarter. Neuburgh Advisers LLC increased its position in Silgan Holdings by 157.5% in the first quarter. Neuburgh Advisers LLC now owns 3,296 shares of the industrial products company’s stock valued at $196,000 after buying an additional 2,016 shares in the last quarter. US Bancorp DE increased its position in Silgan Holdings by 3.1% in the first quarter. US Bancorp DE now owns 3,381 shares of the industrial products company’s stock valued at $200,000 after buying an additional 101 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new position in Silgan Holdings during the first quarter valued at $201,000. 33.30% of the stock is currently owned by hedge funds and other institutional investors.
Silgan Holdings Company Profile
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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