Silgan (NASDAQ:SLGN)‘s stock had its “buy” rating reaffirmed by equities research analysts at BMO Capital Markets in a report issued on Monday, November 20th. They currently have a $34.00 price target on the industrial products company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 17.40% from the stock’s current price.
A number of other research firms have also issued reports on SLGN. BidaskClub lowered shares of Silgan from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Bank of America lowered shares of Silgan from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research note on Thursday, July 27th. KeyCorp reiterated a “hold” rating on shares of Silgan in a research note on Friday, August 25th. ValuEngine downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Royal Bank Of Canada initiated coverage on shares of Silgan in a research report on Monday, October 9th. They issued a “sector perform” rating and a $30.00 target price for the company. Three research 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 presently has an average rating of “Hold” and a consensus price target of $31.57.
Shares of Silgan (NASDAQ SLGN) traded up $0.01 during trading hours on Monday, hitting $28.96. 352,729 shares of the stock were exchanged, compared to its average volume of 546,771. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.96. Silgan has a 12 month low of $24.66 and a 12 month high of $32.50. The firm has a market cap of $3,196.40, a price-to-earnings ratio of 18.56, a P/E/G ratio of 1.77 and a beta of 0.52.
Silgan (NASDAQ:SLGN) last released its earnings results on Wednesday, October 25th. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). Silgan had a return on equity of 32.87% and a net margin of 3.77%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. equities analysts forecast that Silgan will post 1.64 earnings per share for the current fiscal year.
In other news, Director William C. Jennings sold 25,642 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $28.38, for a total value of $727,719.96. Following the completion of the transaction, the director now owns 42,180 shares in the company, valued at approximately $1,197,068.40. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 33.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Northern Trust Corp raised its stake in shares of Silgan by 79.6% in the 2nd quarter. Northern Trust Corp now owns 648,964 shares of the industrial products company’s stock valued at $20,623,000 after buying an additional 287,658 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Silgan by 106.8% during the 2nd quarter. Wells Fargo & Company MN now owns 1,608,013 shares of the industrial products company’s stock worth $51,104,000 after purchasing an additional 830,485 shares in the last quarter. Bradley Foster & Sargent Inc. CT acquired a new stake in shares of Silgan during the 3rd quarter worth about $491,000. JPMorgan Chase & Co. increased its position in shares of Silgan by 102.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,792,959 shares of the industrial products company’s stock worth $247,661,000 after purchasing an additional 3,939,145 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Silgan by 107.4% during the 2nd quarter. BlackRock Inc. now owns 6,637,734 shares of the industrial products company’s stock worth $210,947,000 after purchasing an additional 3,437,477 shares in the last quarter. Institutional investors own 67.69% of the company’s stock.
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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