Silgan Holdings Inc. (SLGN) Given Hold Rating at KeyCorp
Silgan Holdings Inc. (NASDAQ:SLGN)‘s stock had its “hold” rating reaffirmed by investment analysts at KeyCorp in a report issued on Thursday.
A number of other equities research analysts have also commented on the company. Goldman Sachs Group, Inc. (The) lowered Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price target on the stock. in a research report on Thursday, July 13th. BidaskClub lowered Silgan Holdings from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Royal Bank Of Canada began coverage on Silgan Holdings in a research report on Monday. They set a “sector perform” rating and a $30.00 price target on the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $34.00 price target on shares of Silgan Holdings in a research report on Sunday, July 9th. Finally, Bank of America Corporation lowered Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Silgan Holdings presently has a consensus rating of “Hold” and an average price target of $32.00.
Shares of Silgan Holdings (NASDAQ SLGN) traded down 1.48% during trading on Thursday, reaching $28.62. The company had a trading volume of 623,733 shares. The company has a 50 day moving average of $29.38 and a 200-day moving average of $30.49. Silgan Holdings has a 52-week low of $23.86 and a 52-week high of $32.50. The firm has a market capitalization of $3.16 billion, a P/E ratio of 22.73 and a beta of 0.53.
Silgan Holdings (NASDAQ:SLGN) last released its earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Equities analysts expect that Silgan Holdings will post $1.66 earnings per share for the current year.
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In related news, insider Thomas James Snyder sold 10,506 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $30.78, for a total transaction of $323,374.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert B. Lewis sold 7,000 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $29.70, for a total value of $207,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,698 shares of company stock valued at $597,429. 33.10% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Silgan Holdings by 6.8% during the first quarter. Vanguard Group Inc. now owns 3,918,778 shares of the industrial products company’s stock worth $232,618,000 after buying an additional 247,984 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Silgan Holdings by 106.8% during the second quarter. Wells Fargo & Company MN now owns 1,608,013 shares of the industrial products company’s stock worth $51,104,000 after buying an additional 830,485 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Silgan Holdings by 102.2% during the second quarter. JPMorgan Chase & Co. now owns 7,792,959 shares of the industrial products company’s stock worth $247,661,000 after buying an additional 3,939,145 shares in the last quarter. US Bancorp DE grew its holdings in shares of Silgan Holdings by 3.1% during the first quarter. US Bancorp DE now owns 3,381 shares of the industrial products company’s stock worth $200,000 after buying an additional 101 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Silgan Holdings by 273.3% during the first quarter. Renaissance Technologies LLC now owns 237,940 shares of the industrial products company’s stock worth $14,124,000 after buying an additional 174,200 shares in the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.
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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