Silgan Holdings Inc. (SLGN) Stock Rating Lowered by Zacks Investment Research

Silgan Holdings Inc. (NASDAQ:SLGN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Silgan's adjusted earnings per share (EPS) guidance for 2017 in the range of $1.60–$1.70 reflects year-over-year growth of around 20% at the midpoint. It forecasta free cash flow to be about $220 million for the full year. For the third quarter, the company guides adjusted EPS in the range of 64–71 cents. The stock underperformed the industry year-to-date. Increase in debt and unfavorable foreign currency translation will likely hurt the company’s results.”

SLGN has been the subject of several other research reports. BMO Capital Markets reissued a “buy” rating and issued a $34.00 target price on shares of Silgan Holdings in a research report on Sunday, July 9th. KeyCorp reissued a “hold” rating on shares of Silgan Holdings in a research report on Thursday, October 12th. ValuEngine lowered Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub lowered Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Bank of America Corporation lowered Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a research report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.00.

Silgan Holdings (NASDAQ:SLGN) opened at 28.56 on Tuesday. Silgan Holdings has a 52 week low of $24.36 and a 52 week high of $32.50. The stock has a 50 day moving average of $29.28 and a 200 day moving average of $30.47. The firm has a market cap of $3.15 billion, a PE ratio of 22.68 and a beta of 0.53.

Silgan Holdings (NASDAQ:SLGN) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. Silgan Holdings’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. Analysts anticipate that Silgan Holdings will post $1.65 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Silgan Holdings Inc. (SLGN) Stock Rating Lowered by Zacks Investment Research” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another publication, it was illegally copied and republished in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://ledgergazette.com/2017/10/19/silgan-holdings-inc-slgn-stock-rating-lowered-by-zacks-investment-research.html.

In other Silgan Holdings news, VP Robert B. Lewis sold 7,000 shares of Silgan Holdings stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $29.70, for a total value of $207,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Anthony P. Andreacchi sold 2,192 shares of Silgan Holdings stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $30.18, for a total value of $66,154.56. The disclosure for this sale can be found here. In the last three months, insiders sold 19,698 shares of company stock valued at $597,429. Corporate insiders own 33.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Bank of Montreal Can increased its holdings in shares of Silgan Holdings by 89.3% in the 2nd quarter. Bank of Montreal Can now owns 3,916 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 1,847 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Silgan Holdings in the 2nd quarter worth $127,000. Envestnet Asset Management Inc. increased its holdings in shares of Silgan Holdings by 9.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 207 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Silgan Holdings in the 2nd quarter worth $140,000. Finally, Pacad Investment Ltd. increased its holdings in shares of Silgan Holdings by 15.6% in the 2nd quarter. Pacad Investment Ltd. now owns 5,200 shares of the industrial products company’s stock worth $165,000 after purchasing an additional 700 shares in the last quarter. 66.96% of the stock is owned by institutional investors and hedge funds.

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 li

According to Zacks, “Silgan's adjusted earnings per share (EPS) guidance for 2017 in the range of $1.60–$1.70 reflects year-over-year growth of around 20% at the midpoint. It forecasta free cash flow to be about $220 million for the full year. For the third quarter, the company guides adjusted EPS in the range of 64–71 cents. The stock underperformed the industry year-to-date. Increase in debt and unfavorable foreign currency translation will likely hurt the company’s results.”

SLGN has been the subject of several other research reports. BMO Capital Markets reissued a “buy” rating and issued a $34.00 target price on shares of Silgan Holdings in a research report on Sunday, July 9th. KeyCorp reissued a “hold” rating on shares of Silgan Holdings in a research report on Thursday, October 12th. ValuEngine lowered Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub lowered Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Bank of America Corporation lowered Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a research report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.00.

Silgan Holdings (NASDAQ:SLGN) opened at 28.56 on Tuesday. Silgan Holdings has a 52 week low of $24.36 and a 52 week high of $32.50. The stock has a 50 day moving average of $29.28 and a 200 day moving average of $30.47. The firm has a market cap of $3.15 billion, a PE ratio of 22.68 and a beta of 0.53.

Silgan Holdings (NASDAQ:SLGN) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. Silgan Holdings’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. Analysts anticipate that Silgan Holdings will post $1.65 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Silgan Holdings Inc. (SLGN) Stock Rating Lowered by Zacks Investment Research” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another publication, it was illegally copied and republished in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://ledgergazette.com/2017/10/19/silgan-holdings-inc-slgn-stock-rating-lowered-by-zacks-investment-research.html.

In other Silgan Holdings news, VP Robert B. Lewis sold 7,000 shares of Silgan Holdings stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $29.70, for a total value of $207,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Anthony P. Andreacchi sold 2,192 shares of Silgan Holdings stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $30.18, for a total value of $66,154.56. The disclosure for this sale can be found here. In the last three months, insiders sold 19,698 shares of company stock valued at $597,429. Corporate insiders own 33.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Bank of Montreal Can increased its holdings in shares of Silgan Holdings by 89.3% in the 2nd quarter. Bank of Montreal Can now owns 3,916 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 1,847 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Silgan Holdings in the 2nd quarter worth $127,000. Envestnet Asset Management Inc. increased its holdings in shares of Silgan Holdings by 9.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 207 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Silgan Holdings in the 2nd quarter worth $140,000. Finally, Pacad Investment Ltd. increased its holdings in shares of Silgan Holdings by 15.6% in the 2nd quarter. Pacad Investment Ltd. now owns 5,200 shares of the industrial products company’s stock worth $165,000 after purchasing an additional 700 shares in the last quarter. 66.96% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Silgan Holdings (NASDAQ:SLGN)

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