Vertical Research Upgrades Silgan (SLGN) to “Buy”

Silgan (NASDAQ:SLGN) was upgraded by research analysts at Vertical Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, The Fly reports.

A number of other research analysts also recently issued reports on SLGN. Royal Bank of Canada initiated coverage on shares of Silgan in a research note on Monday, October 9th. They issued a “sector perform” rating and a $30.00 price target for the company. KeyCorp reiterated a “hold” rating on shares of Silgan in a research note on Thursday, October 12th. Zacks Investment Research downgraded shares of Silgan from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Robert W. Baird reiterated a “hold” rating and issued a $32.00 price target on shares of Silgan in a research note on Friday, October 27th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $34.00 price target on shares of Silgan in a research note on Monday, November 20th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Silgan presently has a consensus rating of “Hold” and an average target price of $30.90.

Silgan (NASDAQ:SLGN) traded up $0.56 during midday trading on Tuesday, hitting $28.89. 709,802 shares of the stock traded hands, compared to its average volume of 475,667. Silgan has a twelve month low of $27.21 and a twelve month high of $32.50. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.96. The stock has a market capitalization of $3,190.00, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.52 and a beta of 0.51.

Silgan (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). Silgan had a return on equity of 32.87% and a net margin of 3.77%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year. analysts forecast that Silgan will post 1.64 EPS for the current fiscal year.

In other news, Director William C. Jennings sold 25,642 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $28.38, for a total transaction of $727,719.96. Following the completion of the sale, the director now owns 42,180 shares in the company, valued at approximately $1,197,068.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 33.10% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. FMR LLC lifted its position in shares of Silgan by 98.3% during the 2nd quarter. FMR LLC now owns 13,086,272 shares of the industrial products company’s stock worth $415,881,000 after buying an additional 6,485,884 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Silgan by 92.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,542,961 shares of the industrial products company’s stock worth $239,715,000 after buying an additional 3,624,183 shares during the last quarter. BlackRock Inc. lifted its position in shares of Silgan by 107.4% during the 2nd quarter. BlackRock Inc. now owns 6,637,734 shares of the industrial products company’s stock worth $210,947,000 after buying an additional 3,437,477 shares during the last quarter. State Street Corp lifted its position in shares of Silgan by 107.8% during the 2nd quarter. State Street Corp now owns 2,006,227 shares of the industrial products company’s stock worth $63,762,000 after buying an additional 1,040,766 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Silgan by 5.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,716,471 shares of the industrial products company’s stock worth $50,515,000 after buying an additional 81,201 shares during the last quarter. Institutional investors and hedge funds own 66.66% of the company’s stock.

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About Silgan

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.

The Fly

Analyst Recommendations for Silgan (NASDAQ:SLGN)

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