Silgan (NASDAQ:SLGN) was upgraded by research analysts at TheStreet from a “c+” rating to a “b” rating in a research report issued to clients and investors on Tuesday, February 5th.
SLGN has been the subject of a number of other research reports. BidaskClub raised shares of Silgan from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. Barclays lowered their price target on shares of Silgan from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Monday, October 29th. Royal Bank of Canada lowered their price target on shares of Silgan to $25.00 and set a “sector perform” rating on the stock in a research note on Monday, October 29th. BMO Capital Markets lowered their price target on shares of Silgan from $34.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 25th. Finally, Wells Fargo & Co lowered their price target on shares of Silgan from $30.00 to $26.00 and set a “market perform” rating on the stock in a research note on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $28.45.
Shares of SLGN stock traded up $0.23 during trading on Tuesday, hitting $28.54. The company’s stock had a trading volume of 318,577 shares, compared to its average volume of 513,580. The firm has a market cap of $3.19 billion, a PE ratio of 13.72, a P/E/G ratio of 1.74 and a beta of 0.83. The company has a quick ratio of 0.20, a current ratio of 0.40 and a debt-to-equity ratio of 2.40. Silgan has a 52 week low of $22.24 and a 52 week high of $29.78.
Silgan (NASDAQ:SLGN) last released its earnings results on Tuesday, January 29th. The industrial products company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Silgan had a return on equity of 26.82% and a net margin of 5.03%. On average, research analysts expect that Silgan will post 2.17 earnings per share for the current year.
In related news, Director William C. Jennings sold 6,362 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $28.81, for a total transaction of $183,289.22. Following the completion of the sale, the director now owns 39,053 shares of the company’s stock, valued at $1,125,116.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony J. Allott sold 25,320 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $28.33, for a total transaction of $717,315.60. Following the sale, the chief executive officer now directly owns 972,075 shares of the company’s stock, valued at approximately $27,538,884.75. The disclosure for this sale can be found here. Insiders sold 95,172 shares of company stock worth $2,709,435 over the last three months. 30.32% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its holdings in shares of Silgan by 2,370.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 724,449 shares of the industrial products company’s stock worth $31,000 after buying an additional 695,121 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Silgan in the fourth quarter worth about $55,000. Dupont Capital Management Corp bought a new stake in shares of Silgan in the fourth quarter worth about $138,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Silgan by 44.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,097 shares of the industrial products company’s stock worth $144,000 after purchasing an additional 1,876 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new stake in shares of Silgan in the fourth quarter worth about $148,000. 67.05% of the stock is owned by institutional investors.
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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