Silgan (SLGN) Rating Increased to Hold at BidaskClub

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Silgan (NASDAQ:SLGN) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Wednesday, September 19th.

SLGN has been the subject of several other reports. Zacks Investment Research cut Silgan from a “buy” rating to a “hold” rating in a research note on Friday, May 25th. UBS Group assumed coverage on Silgan in a research note on Wednesday, June 20th. They set a “sell” rating and a $25.00 target price for the company. Six analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $31.10.

Shares of SLGN stock traded down $0.06 on Wednesday, hitting $25.95. The stock had a trading volume of 467,157 shares, compared to its average volume of 500,137. The company has a current ratio of 1.11, a quick ratio of 0.57 and a debt-to-equity ratio of 2.59. The company has a market capitalization of $3.08 billion, a PE ratio of 15.73, a P/E/G ratio of 1.34 and a beta of 0.48. Silgan has a 1 year low of $25.61 and a 1 year high of $31.05.

Silgan (NASDAQ:SLGN) last posted its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. Silgan had a return on equity of 28.00% and a net margin of 7.37%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the business earned $0.35 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Research analysts predict that Silgan will post 2.08 EPS for the current fiscal year.

In other news, VP Anthony P. Andreacchi sold 1,843 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $27.15, for a total transaction of $50,037.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Alden sold 6,000 shares of the company’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $27.24, for a total value of $163,440.00. Following the transaction, the director now directly owns 65,655 shares of the company’s stock, valued at $1,788,442.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,843 shares of company stock valued at $707,037. Insiders own 30.32% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new stake in shares of Silgan in the 2nd quarter valued at about $208,000. TLP Group LLC acquired a new stake in shares of Silgan in the 1st quarter valued at about $211,000. State of Alaska Department of Revenue boosted its position in shares of Silgan by 169.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 8,534 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 5,368 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Silgan in the 1st quarter valued at about $283,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Silgan by 118.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,379 shares of the industrial products company’s stock valued at $305,000 after purchasing an additional 6,177 shares during the period. 67.08% of the stock is owned by hedge funds and other institutional investors.

About Silgan

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

See Also: Diversification Important in Investing

Analyst Recommendations for Silgan (NASDAQ:SLGN)

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