BidaskClub Downgrades Silgan (NASDAQ:SLGN) to Sell

Silgan (NASDAQ:SLGN) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

Several other research firms have also commented on SLGN. Zacks Investment Research lowered Silgan from a “hold” rating to a “sell” rating and set a $32.00 price objective on the stock. in a research report on Tuesday, October 15th. ValuEngine lowered Silgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Silgan presently has an average rating of “Hold” and a consensus price target of $33.67.

Shares of SLGN traded up $0.05 during trading hours on Tuesday, hitting $30.87. The stock had a trading volume of 6,473 shares, compared to its average volume of 460,621. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.57 and a current ratio of 1.01. The firm has a market cap of $3.43 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.87 and a beta of 0.76. The company’s fifty day simple moving average is $30.47 and its 200 day simple moving average is $30.15. Silgan has a 12-month low of $22.24 and a 12-month high of $31.69.

Silgan (NASDAQ:SLGN) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. Silgan had a return on equity of 26.05% and a net margin of 4.37%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the company posted $0.76 EPS. As a group, sell-side analysts predict that Silgan will post 2.16 earnings per share for the current fiscal year.

In other Silgan news, Director John W. Alden sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $29.71, for a total value of $59,420.00. Following the transaction, the director now directly owns 67,331 shares of the company’s stock, valued at $2,000,404.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 30.32% of the company’s stock.

A number of large investors have recently bought and sold shares of SLGN. LSV Asset Management grew its stake in Silgan by 54.7% in the second quarter. LSV Asset Management now owns 2,045,636 shares of the industrial products company’s stock worth $62,596,000 after purchasing an additional 723,253 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Silgan by 184.8% in the second quarter. Renaissance Technologies LLC now owns 1,110,280 shares of the industrial products company’s stock valued at $33,975,000 after acquiring an additional 720,400 shares during the period. Atlanta Capital Management Co. L L C acquired a new position in Silgan in the second quarter valued at approximately $21,557,000. Nuveen Asset Management LLC acquired a new position in Silgan in the second quarter valued at approximately $18,741,000. Finally, AQR Capital Management LLC boosted its stake in Silgan by 101.8% in the second quarter. AQR Capital Management LLC now owns 945,373 shares of the industrial products company’s stock valued at $28,304,000 after acquiring an additional 476,949 shares during the period. Institutional investors and hedge funds own 65.91% 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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