Silgan Holdings Inc. (SLGN) Receives Average Recommendation of “Hold” from Analysts
Silgan Holdings Inc. (NASDAQ:SLGN) has been given a consensus rating of “Hold” by the thirteen analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $30.81.
SLGN has been the topic of a number of research analyst reports. BMO Capital Markets reissued a “buy” rating and set a $34.00 price objective on shares of Silgan Holdings in a report on Sunday, July 9th. Barclays PLC boosted their price objective on shares of Silgan Holdings from $27.50 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. Zacks Investment Research downgraded shares of Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. BidaskClub downgraded shares of Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $30.00 price objective (down previously from $60.00) on shares of Silgan Holdings in a report on Monday, June 5th.
Silgan Holdings (NASDAQ SLGN) opened at 30.85 on Friday. The company has a market cap of $3.40 billion, a P/E ratio of 24.22 and a beta of 0.55. Silgan Holdings has a 52 week low of $27.98 and a 52 week high of $32.50. The company has a 50-day moving average of $31.71 and a 200-day moving average of $51.21.
Silgan Holdings (NASDAQ:SLGN) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. Silgan Holdings had a net margin of 3.83% and a return on equity of 29.22%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, equities research analysts predict that Silgan Holdings will post $1.66 EPS for the current year.
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In other Silgan Holdings news, VP B Frederik Prinzen sold 3,204 shares of the company’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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Adam J. Greenlee sold 5,643 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were 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. 33.10% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can increased its stake in shares of 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 valued at $124,000 after buying an additional 1,847 shares during the period. NN Investment Partners Holdings N.V. acquired a new stake in shares of Silgan Holdings during the second quarter valued at about $127,000. Envestnet Asset Management Inc. increased its stake in shares of 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 during the period. Pacer Advisors Inc. increased its stake in shares of 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 during the period. Finally, LS Investment Advisors LLC increased its stake in shares of Silgan Holdings by 136.4% in the second quarter. LS Investment Advisors LLC now owns 5,788 shares of the industrial products company’s stock valued at $184,000 after buying an additional 3,340 shares during the period. 34.07% of the stock is currently owned by 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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