Silgan (NYSE:SLGN) Downgraded by StockNews.com to Hold

Silgan (NYSE:SLGN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada upped their target price on Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Citigroup increased their price objective on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Robert W. Baird lifted their target price on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and issued a $59.00 price target (up previously from $56.00) on shares of Silgan in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.00.

Silgan Stock Down 1.7 %

NYSE SLGN traded down $0.87 during trading on Thursday, hitting $50.73. The company’s stock had a trading volume of 950,786 shares, compared to its average volume of 574,394. Silgan has a fifty-two week low of $38.11 and a fifty-two week high of $52.84. The company has a market cap of $5.42 billion, a PE ratio of 17.80, a P/E/G ratio of 1.50 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. The business’s 50 day simple moving average is $50.47 and its 200-day simple moving average is $47.47.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the business earned $0.83 EPS. Silgan’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts anticipate that Silgan will post 3.66 EPS for the current fiscal year.

Insider Transactions at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the 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 sale, the vice president now directly owns 11,495 shares of the company’s stock, valued at $563,714.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.39% of the company’s stock.

Institutional Trading of Silgan

Several institutional investors have recently bought and sold shares of SLGN. Nordea Investment Management AB lifted its position in shares of Silgan by 118.0% during the 1st quarter. Nordea Investment Management AB now owns 201,258 shares of the industrial products company’s stock valued at $9,755,000 after buying an additional 108,942 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Silgan by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock valued at $125,404,000 after purchasing an additional 204,384 shares in the last quarter. Choreo LLC acquired a new stake in shares of Silgan in the second quarter valued at about $498,000. Seven Eight Capital LP purchased a new stake in shares of Silgan during the first quarter worth about $1,129,000. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Silgan by 17.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock worth $4,769,000 after purchasing an additional 13,289 shares during 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.