Silgan (NYSE:SLGN) Downgraded by StockNews.com to “Hold”

Silgan (NYSE:SLGN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

SLGN has been the topic of a number of other reports. Royal Bank of Canada boosted their target price on Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Citigroup boosted their price objective on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company boosted their price objective on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Finally, Truist Financial reissued a “buy” rating and set a $59.00 price objective (up from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Silgan Stock Performance

Silgan stock opened at $50.53 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $5.40 billion, a P/E ratio of 17.73, a PEG ratio of 1.44 and a beta of 0.67. The stock’s 50 day moving average is $48.67 and its 200 day moving average is $46.76. Silgan has a twelve month low of $38.11 and a twelve month high of $52.84.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, beating the consensus estimate 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 period last year, the business posted $0.83 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts predict that Silgan will post 3.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.39% of the company’s stock.

Institutional Trading of Silgan

Several institutional investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. purchased a new stake in shares of Silgan during the 4th quarter worth $30,000. QRG Capital Management Inc. increased its stake in shares of Silgan by 9.9% during the fourth quarter. QRG Capital Management Inc. now owns 12,199 shares of the industrial products company’s stock worth $552,000 after acquiring an additional 1,094 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Silgan by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,804,254 shares of the industrial products company’s stock worth $126,895,000 after acquiring an additional 33,460 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Silgan by 4.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,686 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 275 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in Silgan by 29.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,695 shares of the industrial products company’s stock worth $529,000 after buying an additional 2,639 shares during the period. Institutional investors and hedge funds 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.