Silgan (NYSE:SLGN) Upgraded by StockNews.com to Buy

Silgan (NYSE:SLGN) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and raised their price target for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Robert W. Baird raised their price target on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised their price objective on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised their price objective on Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Citigroup raised their price objective on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $57.00.

Silgan Trading Down 1.2 %

Shares of SLGN stock opened at $51.37 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06. Silgan has a 52-week low of $38.11 and a 52-week high of $52.84. The company has a market capitalization of $5.49 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 1.49 and a beta of 0.67. The business’s fifty day moving average is $49.52 and its 200 day moving average is $47.06.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the business posted $0.83 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts anticipate that Silgan will post 3.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the sale, the vice president now directly owns 11,495 shares of the company’s stock, valued at $563,714.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SLGN. Daiwa Securities Group Inc. grew its position in shares of Silgan by 0.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company’s stock worth $1,696,000 after buying an additional 218 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Silgan by 5.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock worth $218,000 after purchasing an additional 250 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Silgan by 2.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company’s stock valued at $453,000 after purchasing an additional 267 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Silgan by 0.3% during the first quarter. Retirement Systems of Alabama now owns 101,639 shares of the industrial products company’s stock valued at $4,936,000 after purchasing an additional 268 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Silgan by 4.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,686 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 275 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Silgan Company Profile

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, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.