Bank of America Corporation started coverage on shares of Shiloh Industries, Inc. (NASDAQ:SHLO) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set a “neutral” rating and a $9.50 price target on the basic materials company’s stock. Bank of America Corporation’s target price points to a potential upside of 6.50% from the company’s current price.

SHLO has been the topic of a number of other reports. ValuEngine downgraded shares of Shiloh Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BMO Capital Markets initiated coverage on shares of Shiloh Industries in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $11.00 target price on the stock. Finally, TheStreet downgraded shares of Shiloh Industries from a “c” rating to a “d+” rating in a research note on Wednesday, May 17th.

Shiloh Industries (NASDAQ SHLO) opened at 8.92 on Thursday. The stock has a market capitalization of $206.26 million, a price-to-earnings ratio of 29.25 and a beta of 2.14. Shiloh Industries has a 12-month low of $6.50 and a 12-month high of $16.69. The stock’s 50 day moving average is $8.19 and its 200 day moving average is $11.59.

Shiloh Industries (NASDAQ:SHLO) last issued its earnings results on Tuesday, August 29th. The basic materials company reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.02. The company had revenue of $256.85 million during the quarter, compared to the consensus estimate of $236.40 million. Shiloh Industries had a return on equity of 10.67% and a net margin of 0.52%. Shiloh Industries’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. Equities analysts predict that Shiloh Industries will post $0.63 earnings per share for the current fiscal year.

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In other news, major shareholder Mtd Holdings Inc sold 500,000 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $7.76, for a total transaction of $3,880,000.00. Following the transaction, the insider now directly owns 7,300,866 shares in the company, valued at $56,654,720.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 51.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in shares of Shiloh Industries during the second quarter valued at approximately $105,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Shiloh Industries during the second quarter valued at approximately $141,000. Virtu KCG Holdings LLC bought a new position in shares of Shiloh Industries during the second quarter valued at approximately $157,000. California State Teachers Retirement System bought a new position in shares of Shiloh Industries during the second quarter valued at approximately $181,000. Finally, Schwab Charles Investment Management Inc. bought a new position in shares of Shiloh Industries during the second quarter valued at approximately $182,000. Hedge funds and other institutional investors own 21.70% of the company’s stock.

About Shiloh Industries

Shiloh Industries, Inc is a supplier of lightweighting, noise and vibration solutions to the automotive, commercial vehicle and industrial markets. The Company operates through Automotive and Commercial Vehicles segment. The Company offers portfolio of lightweighting solutions in aluminum, magnesium, steel and high strength steel alloys.

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