BidaskClub Lowers Silgan (SLGN) to Sell

BidaskClub downgraded shares of Silgan (NASDAQ:SLGN) from a hold rating to a sell rating in a research report report published on Saturday morning.

A number of other equities research analysts also recently weighed in on SLGN. UBS Group started coverage on Silgan in a report on Wednesday, June 20th. They set a sell rating and a $25.00 target price for the company. Zacks Investment Research downgraded Silgan from a buy rating to a hold rating in a report on Thursday, June 21st. Finally, ValuEngine raised Silgan from a strong sell rating to a sell rating in a report on Tuesday, October 2nd. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Silgan has an average rating of Hold and an average price target of $31.00.

SLGN opened at $27.44 on Friday. Silgan has a fifty-two week low of $26.18 and a fifty-two week high of $31.05. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.11 and a quick ratio of 0.57. The firm has a market cap of $3.08 billion, a PE ratio of 16.61, a PEG ratio of 1.34 and a beta of 0.48.

Silgan (NASDAQ:SLGN) last posted its earnings results on Wednesday, July 25th. The industrial products company reported $0.52 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.52. Silgan had a return on equity of 28.00% and a net margin of 7.37%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm earned $0.35 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts predict that Silgan will post 2.08 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, August 31st. Silgan’s payout ratio is currently 24.24%.

In related news, VP Robert B. Lewis sold 18,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $27.42, for a total value of $493,560.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John W. Alden sold 6,000 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $27.24, for a total value of $163,440.00. Following the completion of the transaction, the director now owns 65,655 shares in the company, valued at approximately $1,788,442.20. The disclosure for this sale can be found here. Insiders sold 25,843 shares of company stock worth $707,037 in the last 90 days. 30.32% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. bought a new position in shares of Silgan in the second quarter worth $208,000. TLP Group LLC bought a new position in shares of Silgan in the first quarter worth $211,000. Dynamic Technology Lab Private Ltd bought a new position in Silgan in the first quarter valued at about $283,000. BNP Paribas Arbitrage SA grew its position in Silgan by 118.7% in the second quarter. BNP Paribas Arbitrage SA now owns 11,379 shares of the industrial products company’s stock valued at $305,000 after acquiring an additional 6,177 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in Silgan by 54.6% in the first quarter. Xact Kapitalforvaltning AB now owns 11,888 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 4,200 shares during the last quarter. Institutional investors own 67.08% of the company’s stock.

Silgan Company Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

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Analyst Recommendations for Silgan (NASDAQ:SLGN)

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