Silgan (SLGN) Price Target Cut to $33.00

Silgan (NASDAQ:SLGN) had its target price decreased by equities research analysts at Barclays from $35.00 to $33.00 in a note issued to investors on Monday. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays’ target price suggests a potential upside of 37.79% from the stock’s previous close.

Several other research analysts have also commented on the company. ValuEngine upgraded Silgan from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. BidaskClub upgraded Silgan from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 13th. Zacks Investment Research lowered Silgan from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. KeyCorp reissued a “hold” rating on shares of Silgan in a report on Wednesday, October 24th. Finally, Royal Bank of Canada cut their price target on Silgan to $25.00 and set a “sector perform” rating on the stock in a report on Monday. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $29.33.

Shares of NASDAQ SLGN opened at $23.95 on Monday. Silgan has a fifty-two week low of $23.14 and a fifty-two week high of $31.05. The company has a quick ratio of 0.28, a current ratio of 0.47 and a debt-to-equity ratio of 2.59. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 1.12 and a beta of 0.48.



Silgan (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Silgan had a return on equity of 26.91% and a net margin of 7.59%. Silgan’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. Equities analysts expect that Silgan will post 2.05 earnings per share for the current fiscal year.

In other Silgan news, VP Anthony P. Andreacchi sold 1,843 shares of Silgan stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $27.15, for a total transaction of $50,037.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John W. Alden sold 6,000 shares of Silgan stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $27.24, for a total value of $163,440.00. Following the sale, the director now directly owns 65,655 shares in the company, valued at approximately $1,788,442.20. The disclosure for this sale can be found here. Company insiders own 30.32% of the company’s stock.

A number of institutional investors have recently made changes to their positions in SLGN. Itau Unibanco Holding S.A. bought a new stake in Silgan during the 2nd quarter valued at $208,000. State of Alaska Department of Revenue raised its stake in Silgan by 169.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 8,534 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 5,368 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Silgan in the 1st quarter worth $283,000. BNP Paribas Arbitrage SA raised its stake in shares of Silgan by 118.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,379 shares of the industrial products company’s stock worth $305,000 after buying an additional 6,177 shares in the last quarter. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Silgan by 54.6% in the 1st quarter. Xact Kapitalforvaltning AB now owns 11,888 shares of the industrial products company’s stock worth $331,000 after buying an additional 4,200 shares in the last quarter. 67.02% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Company Profile

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 soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

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