Shiloh Industries (NASDAQ:SHLO) Lifted to “Neutral” at Bank of America

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Bank of America upgraded shares of Shiloh Industries (NASDAQ:SHLO) from an underperform rating to a neutral rating in a report issued on Friday morning, 24/7 WallStreet reports.

Other equities research analysts also recently issued reports about the company. ValuEngine upgraded Shiloh Industries from a strong sell rating to a sell rating in a report on Tuesday, July 2nd. TheStreet downgraded Shiloh Industries from a c- rating to a d rating in a report on Wednesday, August 14th. Finally, Zacks Investment Research upgraded Shiloh Industries from a hold rating to a buy rating and set a $5.75 price target on the stock in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $9.92.

Shares of NASDAQ SHLO opened at $4.00 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.03 and a current ratio of 1.34. The business’s 50 day moving average price is $4.53 and its 200-day moving average price is $5.17. Shiloh Industries has a fifty-two week low of $3.97 and a fifty-two week high of $12.28. The company has a market cap of $95.64 million, a price-to-earnings ratio of 6.45, a PEG ratio of 1.76 and a beta of 1.70.

Shiloh Industries (NASDAQ:SHLO) last issued its quarterly earnings results on Thursday, September 5th. The basic materials company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. Shiloh Industries had a positive return on equity of 0.16% and a negative net margin of 1.35%. The firm had revenue of $263.45 million for the quarter. Sell-side analysts predict that Shiloh Industries will post 0.3 earnings per share for the current year.

In other Shiloh Industries news, major shareholder Oak Tree Holdings Llc sold 604,400 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $5.18, for a total transaction of $3,130,792.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 37.40% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHLO. New England Private Wealth Advisors LLC purchased a new position in Shiloh Industries during the 2nd quarter worth $58,000. Weiss Asset Management LP purchased a new position in Shiloh Industries during the 2nd quarter worth $75,000. JPMorgan Chase & Co. increased its holdings in Shiloh Industries by 120.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 32,970 shares of the basic materials company’s stock worth $152,000 after purchasing an additional 18,012 shares during the period. Alambic Investment Management L.P. purchased a new position in Shiloh Industries during the 2nd quarter worth $186,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Shiloh Industries by 32.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 38,640 shares of the basic materials company’s stock worth $188,000 after purchasing an additional 9,451 shares during the period. Institutional investors own 43.41% of the company’s stock.

Shiloh Industries Company Profile

Shiloh Industries, Inc, together with its subsidiaries, provides lightweighting solutions to automotive and commercial vehicle markets worldwide. The company produces components primarily for body structure, chassis, and propulsion systems. Its solution materials include aluminum, magnesium, steel, high strength steel alloys, and acoustic laminates; body structure components comprise shock towers, instrument panels/cross car beams, torque boxes, tunnel supports, seat supports, seat back frames, hinge pillars, liftgates, door inners, roof supports/roof panels, dashpanels, and body sides; and chassis systems components, such as cross members, frame rails, axle carriers, bearing caps, axle covers, ptu covers, axle tubes, rack and pinion housings, steering column housings, knuckles, links, wheel hubs, steering pumps, brake components, wheel blanks, and flanges.

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