Silgan Holdings Inc. (NASDAQ:SLGN) Given Average Rating of “Hold” by Brokerages

Shares of Silgan Holdings Inc. (NASDAQ:SLGNGet Rating) have been assigned an average recommendation of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $48.86.

A number of analysts have weighed in on SLGN shares. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Royal Bank of Canada restated a “maintains” rating on shares of Silgan in a research note on Thursday, July 28th. Raymond James restated a “maintains” rating on shares of Silgan in a research note on Thursday, July 28th. Finally, Citigroup raised their price target on Silgan from $45.00 to $50.00 in a research note on Friday, April 8th.

Hedge Funds Weigh In On Silgan

A number of hedge funds and other institutional investors have recently made changes to their positions in SLGN. Quent Capital LLC grew its holdings in shares of Silgan by 110.6% during the first quarter. Quent Capital LLC now owns 537 shares of the industrial products company’s stock worth $25,000 after buying an additional 282 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Silgan during the first quarter worth about $74,000. Captrust Financial Advisors grew its holdings in shares of Silgan by 65.2% during the first quarter. Captrust Financial Advisors now owns 1,895 shares of the industrial products company’s stock worth $88,000 after buying an additional 748 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Silgan during the first quarter worth about $89,000. Finally, Pinebridge Investments L.P. purchased a new position in shares of Silgan during the fourth quarter worth about $111,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Silgan Stock Down 0.0 %

Shares of NASDAQ SLGN opened at $43.56 on Thursday. The stock has a market cap of $4.83 billion, a P/E ratio of 13.16, a PEG ratio of 2.22 and a beta of 0.77. The company has a current ratio of 0.48, a quick ratio of 0.24 and a debt-to-equity ratio of 2.10. Silgan has a 12-month low of $37.10 and a 12-month high of $46.98. The business’s fifty day simple moving average is $42.12 and its 200-day simple moving average is $43.34.

Silgan (NASDAQ:SLGNGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.12. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Silgan had a return on equity of 26.03% and a net margin of 6.07%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the firm earned $0.85 earnings per share. As a group, equities analysts predict that Silgan will post 3.98 EPS for the current fiscal year.

Silgan Company Profile

(Get Rating)

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products in North America, Europe, and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom 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.

Further Reading

Analyst Recommendations for Silgan (NASDAQ:SLGN)

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