Silgan Holdings Inc. (NASDAQ:SLGN)‘s stock had its “hold” rating reaffirmed by research analysts at KeyCorp in a note issued to investors on Sunday.

The analysts wrote, “We are slightly increasing our 2017 adj. EPS estimate from $1.61 to $1.63 (guidance is $1.62-$1.67) and our 2018 estimate from $1.70 to $1.73 (still well below consensus of $1.91). We reduced our estimates before SLGN’s 3Q17 earnings in anticipation of some of the drags mentioned earlier, but we might have cut a bit too much. For 2018, we are assuming $24 million of EBIT growth, which is coming entirely from an additional quarter of the Dispensing Systems acquisition (in 1Q18, which we assume will be a ~$19 million EBIT contribution), the absence of the $12 million inventory write-up in 2Q17, and the non-recurrence of $3 million of legal costs in 2Q17.””

SLGN has been the topic of several other research reports. Goldman Sachs Group, Inc. (The) lowered Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 target price on the stock. in a research report on Thursday, July 13th. BMO Capital Markets reissued a “buy” rating and set a $34.00 target price on shares of Silgan Holdings in a research report on Sunday, July 9th. Robert W. Baird lowered Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Wednesday, July 19th. BidaskClub lowered Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Bank of America Corporation lowered Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Thursday, July 27th. Three 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 company. The stock presently has a consensus rating of “Hold” and an average target price of $31.57.

Silgan Holdings (NASDAQ:SLGN) traded up 0.07% during trading on Friday, hitting $29.48. 759,407 shares of the stock traded hands. Silgan Holdings has a 12 month low of $24.36 and a 12 month high of $32.50. The company has a market cap of $3.25 billion, a P/E ratio of 23.42 and a beta of 0.53. The company’s 50 day moving average price is $29.13 and its 200 day moving average price is $30.45.

Silgan Holdings (NASDAQ:SLGN) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Silgan Holdings had a net margin of 3.77% and a return on equity of 32.87%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 EPS. On average, equities research analysts anticipate that Silgan Holdings will post $1.64 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “KeyCorp Reaffirms “Hold” Rating for Silgan Holdings Inc. (SLGN)” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this article can be read at https://www.americanbankingnews.com/2017/10/29/keycorp-reaffirms-hold-rating-for-silgan-holdings-inc-slgn.html.

In other Silgan Holdings news, VP Anthony P. Andreacchi sold 2,192 shares of Silgan Holdings stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $30.18, for a total transaction of $66,154.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas James Snyder sold 10,506 shares of Silgan Holdings stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $30.78, for a total value of $323,374.68. The disclosure for this sale can be found here. Insiders have sold a total of 19,698 shares of company stock worth $597,429 in the last three months. Corporate insiders own 33.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its position in Silgan Holdings by 9.8% during the first quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock worth $139,000 after buying an additional 207 shares during the period. California Public Employees Retirement System increased its position in Silgan Holdings by 1.5% during the first quarter. California Public Employees Retirement System now owns 20,900 shares of the industrial products company’s stock worth $1,241,000 after buying an additional 300 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in Silgan Holdings by 8.4% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,994 shares of the industrial products company’s stock worth $360,000 after buying an additional 543 shares during the period. Pacad Investment Ltd. increased its position in Silgan Holdings by 15.6% during the second quarter. Pacad Investment Ltd. now owns 5,200 shares of the industrial products company’s stock worth $165,000 after buying an additional 700 shares during the period. Finally, Profund Advisors LLC increased its position in Silgan Holdings by 20.5% during the second quarter. Profund Advisors LLC now owns 7,888 shares of the industrial products company’s stock worth $251,000 after buying an additional 1,340 shares during the period. 66.93% 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.

Analyst Recommendations for Silgan Holdings (NASDAQ:SLGN)

Receive News & Ratings for Silgan Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silgan Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.