Silgan (NYSE:SLGN – Get Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
SLGN has been the subject of a number of other reports. Raymond James reduced their target price on shares of Silgan from $55.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, July 27th. Robert W. Baird upgraded Silgan from a “neutral” rating to an “outperform” rating and set a $53.00 target price on the stock in a research note on Thursday, July 27th. Citigroup cut their price target on Silgan from $56.00 to $55.00 in a research note on Monday, July 10th. Finally, Bank of America lowered their price objective on Silgan from $64.00 to $59.00 in a research note on Monday, July 10th. Two investment analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.44.
Silgan Stock Down 1.8 %
SLGN opened at $42.57 on Wednesday. Silgan has a fifty-two week low of $40.97 and a fifty-two week high of $55.41. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.44 and a quick ratio of 0.77. The company’s 50-day moving average is $44.53 and its 200 day moving average is $47.43. The firm has a market capitalization of $4.68 billion, a P/E ratio of 15.04, a PEG ratio of 2.49 and a beta of 0.78.
Silgan (NYSE:SLGN – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.08). Silgan had a return on equity of 23.35% and a net margin of 5.01%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the business posted $1.08 earnings per share. The business’s revenue was down 7.6% compared to the same quarter last year. Research analysts expect that Silgan will post 3.49 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Joseph M. Jordan sold 2,967 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $44.96, for a total transaction of $133,396.32. Following the completion of the transaction, the director now directly owns 29,437 shares in the company, valued at approximately $1,323,487.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Silgan news, EVP Robert B. Lewis sold 10,031 shares of Silgan stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $44.18, for a total transaction of $443,169.58. Following the completion of the sale, the executive vice president now directly owns 219,198 shares in the company, valued at $9,684,167.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph M. Jordan sold 2,967 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $44.96, for a total transaction of $133,396.32. Following the completion of the transaction, the director now directly owns 29,437 shares in the company, valued at approximately $1,323,487.52. The disclosure for this sale can be found here. Corporate insiders own 13.08% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Machina Capital S.A.S. bought a new stake in shares of Silgan in the 1st quarter worth approximately $28,000. Signaturefd LLC lifted its stake in shares of Silgan by 234.0% in the 1st quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 379 shares during the last quarter. Eagle Bay Advisors LLC boosted its holdings in Silgan by 151.1% during the 2nd quarter. Eagle Bay Advisors LLC now owns 836 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 503 shares during the period. Bessemer Group Inc. increased its stake in Silgan by 1,087.9% in the 1st quarter. Bessemer Group Inc. now owns 1,176 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 1,077 shares during the period. Finally, State of Wyoming lifted its position in Silgan by 30.4% in the second quarter. State of Wyoming now owns 1,635 shares of the industrial products company’s stock valued at $77,000 after purchasing an additional 381 shares during the last quarter. Institutional investors own 66.24% of the company’s stock.
About Silgan
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, and beauty products, as well as capping/sealing equipment and detection systems.