Silgan Holdings Inc. (NASDAQ:SLGN) was downgraded by equities researchers at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “sell” rating in a report released on Thursday, MarketBeat.com reports. They currently have a $30.00 target price on the industrial products company’s stock. Goldman Sachs Group, Inc. (The)’s price objective indicates a potential downside of 5.03% from the stock’s previous close.
A number of other equities research analysts have also weighed in on the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Silgan Holdings in a report on Sunday, July 9th. Zacks Investment Research downgraded shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub downgraded shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Deutsche Bank AG reiterated a “hold” rating and set a $30.00 price target (down from $60.00) on shares of Silgan Holdings in a research report on Monday, June 5th. Finally, ValuEngine upgraded shares of Silgan Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Silgan Holdings presently has an average rating of “Hold” and an average target price of $29.42.
Silgan Holdings (NASDAQ:SLGN) traded up 0.51% during trading on Thursday, reaching $31.65. The company had a trading volume of 166,067 shares. Silgan Holdings has a 1-year low of $23.58 and a 1-year high of $32.50. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 24.84 and a beta of 0.55. The firm has a 50-day moving average of $42.17 and a 200-day moving average of $53.91.
Silgan Holdings (NASDAQ:SLGN) last announced its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. Silgan Holdings had a return on equity of 28.84% and a net margin of 4.14%. The company had revenue of $805.40 million for the quarter, compared to analyst estimates of $795.58 million. During the same quarter in the previous year, the company earned $0.23 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Silgan Holdings will post $1.59 EPS for the current fiscal year.
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In related news, VP B Frederik Prinzen sold 3,204 shares of Silgan Holdings stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $62.28, for a total transaction of $199,545.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Adam J. Greenlee sold 5,643 shares of Silgan Holdings stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $61.56, for a total value of $347,383.08. The disclosure for this sale can be found here. Insiders own 33.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Silgan Holdings by 12,224.8% in the first quarter. BlackRock Inc. now owns 3,200,257 shares of the industrial products company’s stock valued at $189,966,000 after buying an additional 3,174,291 shares during the period. Norges Bank acquired a new position in shares of Silgan Holdings during the fourth quarter valued at $36,931,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Silgan Holdings by 96.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,164,656 shares of the industrial products company’s stock valued at $37,013,000 after buying an additional 571,928 shares during the period. American Century Companies Inc. acquired a new position in shares of Silgan Holdings during the first quarter valued at $33,329,000. Finally, GW&K Investment Management LLC increased its position in shares of Silgan Holdings by 94.0% in the second quarter. GW&K Investment Management LLC now owns 770,116 shares of the industrial products company’s stock valued at $24,474,000 after buying an additional 373,086 shares during the period. Institutional investors own 33.51% of the company’s stock.
About Silgan Holdings
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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