Silgan (SLGN) Stock Rating Upgraded by BidaskClub

Silgan (NASDAQ:SLGN) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, BidAskClub reports.

SLGN has been the topic of a number of other reports. TheStreet upgraded shares of Silgan from a “c+” rating to a “b” rating in a research note on Tuesday, February 5th. ValuEngine upgraded shares of Silgan from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Zacks Investment Research lowered shares of Silgan from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. Finally, KeyCorp reiterated a “hold” rating on shares of Silgan in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Silgan has an average rating of “Hold” and an average price target of $29.25.

Shares of Silgan stock traded up $0.03 on Wednesday, reaching $30.09. 618,200 shares of the stock were exchanged, compared to its average volume of 478,398. Silgan has a 1-year low of $22.24 and a 1-year high of $30.90. The company has a quick ratio of 0.62, a current ratio of 1.15 and a debt-to-equity ratio of 2.35. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 1.77 and a beta of 0.82.

Silgan (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Silgan had a net margin of 5.04% and a return on equity of 26.74%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $0.42 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts anticipate that Silgan will post 2.19 EPS for the current year.

In other Silgan news, CEO Anthony J. Allott sold 25,320 shares of the company’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $28.33, for a total transaction of $717,315.60. Following the transaction, the chief executive officer now directly owns 972,075 shares in the company, valued at $27,538,884.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert B. Lewis sold 18,400 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $30.03, for a total transaction of $552,552.00. Following the transaction, the chief financial officer now owns 252,117 shares in the company, valued at $7,571,073.51. The disclosure for this sale can be found here. Insiders have sold 350,814 shares of company stock worth $10,370,531 over the last 90 days. 30.32% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. grew its position in Silgan by 121.8% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,100 shares of the industrial products company’s stock worth $62,000 after buying an additional 1,153 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Silgan during the fourth quarter worth about $55,000. Macquarie Group Ltd. acquired a new position in Silgan during the first quarter worth about $96,000. Assetmark Inc. lifted its holdings in shares of Silgan by 197.5% in the first quarter. Assetmark Inc. now owns 4,567 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 3,032 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Silgan by 283.5% in the first quarter. BNP Paribas Arbitrage SA now owns 4,909 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 3,629 shares in the last quarter. Institutional investors own 66.59% of the company’s stock.

About Silgan

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

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Analyst Recommendations for Silgan (NASDAQ:SLGN)

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