Royal Bank Of Canada Initiates Coverage on Silgan Holdings Inc. (SLGN)

Royal Bank Of Canada assumed coverage on shares of Silgan Holdings Inc. (NASDAQ:SLGN) in a research note issued to investors on Monday. The brokerage set a “sector perform” rating and a $30.00 price target on the industrial products company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 2.18% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Goldman Sachs Group, Inc. (The) lowered Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price objective for the company. in a research report on Thursday, July 13th. BMO Capital Markets restated a “buy” rating and set a $34.00 price objective on shares of Silgan Holdings in a research report on Sunday, July 9th. Robert W. Baird lowered Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Wednesday, July 19th. BidaskClub lowered Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Bank of America Corporation lowered Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $32.00.

Silgan Holdings (NASDAQ SLGN) opened at 29.36 on Monday. Silgan Holdings has a 12-month low of $23.58 and a 12-month high of $32.50. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 23.32 and a beta of 0.53. The firm has a 50-day moving average of $29.44 and a 200-day moving average of $30.52.

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

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In other news, VP Anthony P. Andreacchi sold 2,192 shares of Silgan Holdings stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $30.18, for a total transaction of $66,154.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Robert B. Lewis sold 7,000 shares of Silgan Holdings stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $29.70, for a total value of $207,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,698 shares of company stock valued at $597,429. 33.10% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in SLGN. Pacer Advisors Inc. lifted its holdings in Silgan Holdings by 1.0% in the 1st quarter. Pacer Advisors Inc. now owns 2,732 shares of the industrial products company’s stock worth $162,000 after purchasing an additional 27 shares during the last quarter. Utah Retirement Systems lifted its holdings in Silgan Holdings by 1.5% in the 1st quarter. Utah Retirement Systems now owns 6,752 shares of the industrial products company’s stock worth $401,000 after purchasing an additional 100 shares during the last quarter. US Bancorp DE lifted its holdings in Silgan Holdings by 3.1% in the 1st quarter. US Bancorp DE now owns 3,381 shares of the industrial products company’s stock worth $200,000 after purchasing an additional 101 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Silgan Holdings by 9.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 207 shares during the last quarter. Finally, Advantus Capital Management Inc lifted its holdings in Silgan Holdings by 4.5% in the 1st quarter. Advantus Capital Management Inc now owns 4,793 shares of the industrial products company’s stock worth $285,000 after purchasing an additional 207 shares during the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.

Silgan Holdings Company Profile

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.

Analyst Recommendations for Silgan Holdings (NASDAQ:SLGN)

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