Brokerages Set Silgan Holdings Inc. (NASDAQ:SLGN) Target Price at $30.81

Shares of Silgan Holdings Inc. (NASDAQ:SLGN) have been given a consensus rating of “Hold” by the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $30.81.

A number of equities research analysts have commented on SLGN shares. Zacks Investment Research cut shares of Silgan Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, April 6th. Deutsche Bank AG restated a “hold” rating and set a $30.00 target price (down previously from $60.00) on shares of Silgan Holdings in a research note on Monday, June 5th. BidaskClub cut shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. ValuEngine raised shares of Silgan Holdings from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 31st. Finally, Barclays PLC increased their price objective on shares of Silgan Holdings from $27.50 to $30.00 and gave the company an “equal weight” rating in a report on Monday, May 1st.

Shares of Silgan Holdings (SLGN) traded down 0.42% during trading on Friday, reaching $30.53. 566,310 shares of the company traded hands. The company has a market capitalization of $3.37 billion, a P/E ratio of 24.25 and a beta of 0.54. Silgan Holdings has a 52 week low of $23.58 and a 52 week high of $32.50. The company’s 50-day moving average price is $31.63 and its 200-day moving average price is $50.69.

Silgan Holdings (NASDAQ:SLGN) last released its earnings results on Wednesday, July 26th. The industrial products company reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. Silgan Holdings had a net margin of 3.83% and a return on equity of 31.19%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business earned $0.60 EPS. The firm’s revenue was up 16.8% compared to the same quarter last year. Equities research analysts forecast that Silgan Holdings will post $1.66 EPS for the current fiscal year.

In related news, VP B Frederik Prinzen sold 3,204 shares of the firm’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $62.28, for a total value of $199,545.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Adam J. Greenlee sold 5,643 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $61.56, for a total transaction of $347,383.08. The disclosure for this sale can be found here. Company insiders own 33.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SLGN. Vanguard Group Inc. raised its position in Silgan Holdings by 6.8% in the first quarter. Vanguard Group Inc. now owns 3,918,778 shares of the industrial products company’s stock worth $232,618,000 after buying an additional 247,984 shares during the period. BlackRock Inc. raised its position in Silgan Holdings by 12,224.8% in the first quarter. BlackRock Inc. now owns 3,200,257 shares of the industrial products company’s stock worth $189,966,000 after buying an additional 3,174,291 shares during the period. Wellington Management Group LLP raised its position in Silgan Holdings by 2.2% in the first quarter. Wellington Management Group LLP now owns 1,533,986 shares of the industrial products company’s stock worth $91,058,000 after buying an additional 32,672 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in Silgan Holdings by 96.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,164,656 shares of the industrial products company’s stock worth $37,013,000 after buying an additional 571,928 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Silgan Holdings by 101.5% in the second quarter. Russell Investments Group Ltd. now owns 1,027,745 shares of the industrial products company’s stock worth $32,661,000 after buying an additional 517,697 shares during the period. 35.11% of the stock is owned by hedge funds and other institutional investors.

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About Silgan Holdings

Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.