Silgan (SLGN) Upgraded at BidaskClub

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Silgan (NASDAQ:SLGN) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

SLGN has been the topic of a number of other research reports. ValuEngine raised shares of Silgan from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research cut shares of Silgan from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. TheStreet cut shares of Silgan from a “b-” rating to a “c+” rating in a research report on Wednesday, November 14th. BMO Capital Markets cut their price target on shares of Silgan from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Silgan in a research report on Wednesday, October 24th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $29.33.

Shares of SLGN opened at $25.50 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.70 and a debt-to-equity ratio of 2.40. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.19 and a beta of 0.69. Silgan has a 12 month low of $23.14 and a 12 month high of $31.05.

Silgan (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $0.76 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.76. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Silgan had a net margin of 7.59% and a return on equity of 26.91%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share. As a group, sell-side analysts predict that Silgan will post 2.05 EPS for the current year.

In related news, Director William T. Donovan acquired 5,000 shares of the business’s stock in a transaction dated Monday, October 29th. The shares were bought at an average price of $23.75 per share, with a total value of $118,750.00. Following the transaction, the director now directly owns 8,235 shares of the company’s stock, valued at $195,581.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert B. Lewis sold 15,000 shares of the stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $24.10, for a total transaction of $361,500.00. Following the transaction, the vice president now directly owns 398,063 shares in the company, valued at approximately $9,593,318.30. The disclosure for this sale can be found here. Insiders have sold a total of 75,040 shares of company stock worth $1,851,055 in the last three months. Insiders own 30.32% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SLGN. Principal Financial Group Inc. boosted its position in shares of Silgan by 4.1% during the 1st quarter. Principal Financial Group Inc. now owns 328,477 shares of the industrial products company’s stock worth $9,148,000 after purchasing an additional 12,971 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Silgan in the 2nd quarter worth about $443,000. BNP Paribas Arbitrage SA raised its holdings 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 worth $305,000 after acquiring an additional 6,177 shares during the last quarter. Comerica Bank raised its holdings in shares of Silgan by 20.8% in the 2nd quarter. Comerica Bank now owns 241,064 shares of the industrial products company’s stock worth $6,444,000 after acquiring an additional 41,516 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Silgan by 11.3% in the 2nd quarter. Wells Fargo & Company MN now owns 2,088,898 shares of the industrial products company’s stock worth $56,044,000 after acquiring an additional 212,087 shares during the last quarter. 67.48% of the stock is currently owned by 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.

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Analyst Recommendations for Silgan (NASDAQ:SLGN)

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