StockNews.com Downgrades Silgan (NYSE:SLGN) to Hold

Silgan (NYSE:SLGN) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other equities research analysts have also commented on the stock. Royal Bank of Canada boosted their price objective on shares of Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Robert W. Baird raised their price target on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $46.00 to $53.00 in a research note on Thursday, August 1st. Wells Fargo & Company boosted their price objective on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Citigroup increased their price target on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Silgan Price Performance

Shares of SLGN opened at $50.53 on Friday. The stock has a market cap of $5.40 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 1.46 and a beta of 0.67. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.06 and a quick ratio of 0.64. Silgan has a 1-year low of $38.11 and a 1-year high of $52.84. The firm has a fifty day moving average price of $48.67 and a 200 day moving average price of $46.80.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.01. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Silgan had a net margin of 5.24% and a return on equity of 19.22%. Silgan’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 EPS. As a group, sell-side analysts anticipate that Silgan will post 3.66 EPS for the current year.

Insider Activity at Silgan

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the transaction, the vice president now owns 11,495 shares of the company’s stock, valued at $563,714.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Silgan by 256.6% during the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 426 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Silgan during the 4th quarter valued at about $30,000. Versant Capital Management Inc grew its stake in shares of Silgan by 2,838.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 1,107 shares during the last quarter. GAMMA Investing LLC lifted its stake in Silgan by 109.9% during the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 613 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Silgan by 69.7% in the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after buying an additional 462 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Silgan Company Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers a range of metal and plastic closures, and dispensing systems for food, beverage, health care, garden, home, personal care, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.