Silgan (NASDAQ:SLGN) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage presently has a $35.00 price target on the industrial products company’s stock, up from their previous price target of $30.00. Barclays’ price target points to a potential upside of 25.04% from the company’s current price.
A number of other research firms have also weighed in on SLGN. Zacks Investment Research lowered Silgan from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Vertical Research raised Silgan from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. JPMorgan Chase & Co. lowered Silgan from a “neutral” rating to an “underweight” rating and set a $30.00 price objective on the stock. in a research report on Wednesday, January 17th. Bank of America lowered Silgan from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 2nd. Finally, KeyCorp reissued a “sell” rating and issued a $25.00 target price on shares of Silgan in a report on Thursday, February 1st. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $31.20.
Silgan (NASDAQ:SLGN) traded up $0.20 during trading on Monday, hitting $27.99. The stock had a trading volume of 1,415,788 shares, compared to its average volume of 694,706. Silgan has a 1-year low of $27.21 and a 1-year high of $32.50. The company has a quick ratio of 0.17, a current ratio of 0.38 and a debt-to-equity ratio of 3.96. The stock has a market capitalization of $3,067.26, a price-to-earnings ratio of 11.57, a P/E/G ratio of 1.33 and a beta of 0.49.
In related news, Director William C. Jennings sold 25,642 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $28.38, for a total value of $727,719.96. Following the transaction, the director now owns 42,180 shares of the company’s stock, valued at $1,197,068.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 33.10% of the company’s stock.
Several hedge funds have recently modified their holdings of SLGN. State of Alaska Department of Revenue purchased a new position in shares of Silgan during the fourth quarter worth about $158,000. Cubist Systematic Strategies LLC purchased a new position in shares of Silgan during the third quarter worth about $167,000. Breton Hill Capital Ltd. purchased a new position in shares of Silgan during the third quarter worth about $218,000. Victory Capital Management Inc. grew its holdings in shares of Silgan by 73.2% during the third quarter. Victory Capital Management Inc. now owns 7,638 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 3,228 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Silgan during the third quarter worth about $264,000. 66.83% of the stock is currently owned by institutional investors.
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Silgan 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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