Silgan (SLGN) Rating Increased to Buy at Zacks Investment Research

Silgan (NASDAQ:SLGN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm currently has a $33.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.28% from the company’s previous close.

According to Zacks, “For fiscal 2018, Silgan Holdings guided adjusted EPS in the range of $2.03-$2.13. The mid-point of the range depicts year-over-year growth of 26%, which will be driven by improvement in sales and operating income across all segments. Further, the company initiated a guidance range of 32-36 cents for adjusted earnings per share for the fiscal first quarter, reflecting year-over-year growth of around 10%. Its adjusted EPS for first-quarter fiscal 2018 will benefit from inclusion of the synergies of the Dispensing Systems acquisition and benefit of the lower tax rate. Moreover, the stock has outperformed the industry over the past six months.”

Several other research analysts have also commented on SLGN. Royal Bank of Canada started coverage on shares of Silgan in a report on Monday, October 9th. They issued a “sector perform” rating and a $30.00 price target for the company. KeyCorp reissued a “hold” rating on shares of Silgan in a research note on Thursday, October 12th. Robert W. Baird reissued a “hold” rating and set a $32.00 target price on shares of Silgan in a research note on Friday, October 27th. BMO Capital Markets reissued a “buy” rating and set a $34.00 target price on shares of Silgan in a research note on Monday, November 20th. Finally, Bank of America lowered shares of Silgan from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 2nd. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.70.

Silgan (SLGN) traded down $0.07 on Monday, hitting $29.39. 216,441 shares of the stock traded hands, compared to its average volume of 579,039. The company has a market cap of $3,251.58, a P/E ratio of 12.15, a P/E/G ratio of 1.41 and a beta of 0.49. Silgan has a one year low of $27.21 and a one year high of $32.50. The company has a debt-to-equity ratio of 3.96, a current ratio of 0.38 and a quick ratio of 0.17.

Silgan (NASDAQ:SLGN) last released its earnings results on Tuesday, January 30th. The industrial products company reported $0.32 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. Silgan had a net margin of 6.59% and a return on equity of 30.15%. The company had revenue of $995.70 million during the quarter, compared to the consensus estimate of $970.24 million. During the same quarter in the previous year, the firm earned $0.48 EPS. The company’s revenue was up 23.6% on a year-over-year basis. sell-side analysts expect that Silgan will post 2.09 earnings per share for the current year.

In other news, Director William C. Jennings sold 25,642 shares of the company’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 value of $727,719.96. Following the completion of the sale, the director now directly owns 42,180 shares of the company’s stock, valued at approximately $1,197,068.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 33.10% of the company’s stock.

Several large investors have recently modified their holdings of the company. American Century Companies Inc. lifted its stake in shares of Silgan by 22.4% in the 4th quarter. American Century Companies Inc. now owns 1,768,586 shares of the industrial products company’s stock worth $51,979,000 after acquiring an additional 323,252 shares during the period. Comerica Bank raised its holdings in shares of Silgan by 25.8% in the 4th quarter. Comerica Bank now owns 182,425 shares of the industrial products company’s stock worth $5,201,000 after purchasing an additional 37,453 shares in the last quarter. Parametrica Management Ltd raised its holdings in shares of Silgan by 17.1% in the 4th quarter. Parametrica Management Ltd now owns 13,000 shares of the industrial products company’s stock worth $382,000 after purchasing an additional 1,900 shares in the last quarter. BTIM Corp. raised its holdings in shares of Silgan by 5.2% in the 4th quarter. BTIM Corp. now owns 741,885 shares of the industrial products company’s stock worth $21,804,000 after purchasing an additional 36,463 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its holdings in shares of Silgan by 63.9% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,409,945 shares of the industrial products company’s stock worth $41,438,000 after purchasing an additional 549,657 shares in the last quarter. 66.45% of the stock is owned by institutional investors.

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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.

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