Silgan (NASDAQ: SLGN) now covered by Raymond James
Raymond James analysts launched a cover on the shares of Silgan (NASDAQ: SLGN) in a research note published on Tuesday, Fly reports. The company assigned an “outperformance” rating to the stocks of the industrial products company.
Several other research analysts have also published reports on SLGN. Royal Bank of Canada raised its target price on Silgan’s stock from $ 49 to $ 50.00 and rated the stock “outperforming” in a research report released Thursday, October 28. Truist Securities began covering Silgan’s shares in a research report on Tuesday, September 14. They set a “conservation” rating and a price target of $ 46.00 for the company. BMO Capital Markets raised its price target for Silgan shares from $ 50.00 to $ 52.00 and assigned the company an “outperformance” rating in a research report released on Wednesday, September 22. JPMorgan Chase & Co. downgraded Silgan’s stock from a “neutral” to an “underweight” rating and lowered its price target for the company from $ 44.00 to $ 40.00 in a report of research published on Friday, October 1. Finally, Truist began covering Silgan’s actions in a research report on Monday, September 13. They set a “conservation” rating and a price target of $ 46.00 for the company. They noted that the move was an appraisal call. One research analyst rated the stock with a sell rating, five assigned a conservation rating, and nine assigned a buy rating to the company’s stock. Based on data from MarketBeat, Silgan has an average rating of “Buy” and a consensus target price of $ 46.86.
Actions of SLGN traded up $ 0.07 at midday Tuesday, reaching $ 42.37. 205,571 shares of the stock traded hands, compared to its average volume of 376,277. The company has a fifty-day moving average price of $ 40.46 and a 200-day moving average price of 41.21 $. The company has a market cap of $ 4.68 billion, a price / earnings ratio of 14.08, a price / earnings-growth ratio of 2.51, and a beta of 0.80. The company has a current ratio of 1.07, a quick ratio of 0.70 and a debt ratio of 2.19. Silgan has a one-year low at $ 33.62 and a one-year high at $ 44.55.
Silgan (NASDAQ: SLGN) last reported its results on Wednesday, October 27. The industrials company reported earnings per share (EPS) of $ 1.02 for the quarter, missing the consensus estimate of $ 1.04 of ($ 0.02). Silgan had a return on equity of 26.60% and a net margin of 6.12%. The company posted revenue of $ 1.65 billion in the quarter, compared to analysts’ expectations of $ 1.59 billion. In the same quarter of last year, the company posted earnings per share of $ 1.04. The company’s revenue grew 10.9% year-over-year. On average, sell-side analysts predict Silgan will post 3.35 EPS for the current year.
In related news, the president Anthony J. Allott sold 60,000 shares in a transaction dated Monday, November 15. The shares were sold at an average price of $ 42.47, for a total value of $ 2,548,200.00. The transaction was disclosed in a file with the Securities & Exchange Commission, which is available through this hyperlink. 24.38% of the shares are held by insiders.
A number of institutional investors and hedge funds have recently changed their positions in the company. Xponance Inc. increased its stake in Silgan by 2.9% in the third quarter. Xponance Inc. now owns 9,426 shares of the industrial products company valued at $ 362,000 after purchasing an additional 268 shares during the period. Securian Asset Management Inc. increased its holdings of Silgan shares by 4.5% during the third quarter. Securian Asset Management Inc. now owns 7,525 shares of the industrial products company valued at $ 289,000 after purchasing 322 additional shares in the last quarter. Meeder Asset Management Inc. increased its holdings of Silgan shares by 14.3% in the second quarter. Meeder Asset Management Inc. now owns 3,269 shares of the industrial products company valued at $ 136,000 after purchasing an additional 409 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its holdings of Silgan shares by 0.8% in the second quarter. Susquehanna Fundamental Investments LLC now owns 58,902 shares of the industrials company valued at $ 2,444,000 after purchasing 450 additional shares in the last quarter. Finally, AGF Investments LLC increased its stake in Silgan shares by 3.6% during the third quarter. AGF Investments LLC now owns 14,724 shares of the industrial products company valued at $ 565,000 after purchasing an additional 511 shares in the last quarter. Institutional investors and hedge funds hold 67.95% of the company’s shares.
Silgan Company Profile
Silgan Holdings, Inc. is engaged in the manufacture and sale of rigid packaging for consumer products. It operates in the following business sectors: metal containers, closures and plastic containers. The metal container segment includes steel and aluminum containers for human and pet food, as well as general line products.
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