BMO Capital Markets reaffirmed their buy rating on shares of Silgan Holdings Inc. (NASDAQ:SLGN) in a research note issued to investors on Sunday, July 9th. The firm currently has a $34.00 target price on the industrial products company’s stock.
A number of other brokerages also recently weighed in on SLGN. Zacks Investment Research downgraded Silgan Holdings from a hold rating to a sell rating in a report on Thursday, April 6th. ValuEngine upgraded Silgan Holdings from a buy rating to a strong-buy rating in a report on Wednesday, May 31st. Deutsche Bank AG reiterated a hold rating and set a $30.00 price target (down previously from $60.00) on shares of Silgan Holdings in a report on Monday, June 5th. KeyCorp reiterated a hold rating on shares of Silgan Holdings in a report on Wednesday, April 26th. Finally, Barclays PLC lifted their price target on Silgan Holdings from $27.50 to $30.00 and gave the company an equal weight rating in a report on Monday, May 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $30.21.
Silgan Holdings (SLGN) traded down 1.72% during trading on Friday, reaching $31.35. The company had a trading volume of 781,760 shares. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 24.61 and a beta of 0.55. Silgan Holdings has a 12 month low of $23.58 and a 12 month high of $32.50. The stock has a 50 day moving average price of $31.73 and a 200 day moving average price of $51.35.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Silgan Holdings had a return on equity of 28.84% and a net margin of 4.14%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. Silgan Holdings’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, equities research analysts predict that Silgan Holdings will post $1.59 earnings per share for the current year.
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In other Silgan Holdings news, VP B Frederik Prinzen sold 3,204 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $62.28, for a total value of $199,545.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Adam J. Greenlee sold 5,643 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $61.56, for a total value of $347,383.08. The disclosure for this sale can be found here. Insiders own 33.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Glen Harbor Capital Management LLC boosted its stake in shares of Silgan Holdings by 157.5% in the first quarter. Glen Harbor Capital Management LLC now owns 4,532 shares of the industrial products company’s stock worth $269,000 after buying an additional 2,772 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Silgan Holdings during the first quarter worth $953,000. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Silgan Holdings during the first quarter worth $18,380,000. ProShare Advisors LLC bought a new stake in shares of Silgan Holdings during the first quarter worth $201,000. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Silgan Holdings by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the industrial products company’s stock worth $564,000 after buying an additional 200 shares in the last quarter. 34.07% of the stock is owned by institutional investors.
Silgan Holdings 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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