Silgan (NYSE:SLGN) Lifted to Neutral at JPMorgan Chase & Co.

Silgan (NYSE:SLGN) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Thursday, MarketBeat Ratings reports. The firm currently has a $53.00 target price on the industrial products company’s stock, up from their prior target price of $46.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 3.05% from the company’s current price.

SLGN has been the subject of a number of other reports. Citigroup upgraded shares of Silgan from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Monday, July 8th. Wells Fargo & Company dropped their price objective on shares of Silgan from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Silgan Stock Performance

NYSE:SLGN opened at $51.43 on Thursday. The company’s 50-day moving average price is $44.93 and its 200-day moving average price is $45.37. The company has a current ratio of 1.04, a quick ratio of 0.62 and a debt-to-equity ratio of 1.33. The company has a market cap of $5.49 billion, a P/E ratio of 18.05, a P/E/G ratio of 1.64 and a beta of 0.67. Silgan has a twelve month low of $38.11 and a twelve month high of $52.11.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the business earned $0.78 earnings per share. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, sell-side analysts forecast that Silgan will post 3.66 earnings per share for the current fiscal year.

Insider Transactions at Silgan

In other news, VP B Frederik Prinzen sold 4,093 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $47.84, for a total transaction of $195,809.12. Following the completion of the sale, the vice president now owns 4,520 shares in the company, valued at approximately $216,236.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Jay A. Martin sold 4,228 shares of Silgan stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.13, for a total value of $199,265.64. Following the transaction, the senior vice president now directly owns 144,161 shares of the company’s stock, valued at approximately $6,794,307.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP B Frederik Prinzen sold 4,093 shares of Silgan stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.84, for a total transaction of $195,809.12. Following the completion of the transaction, the vice president now directly owns 4,520 shares in the company, valued at $216,236.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,651 shares of company stock worth $2,804,226. 1.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Silgan

A number of institutional investors have recently modified their holdings of SLGN. Norges Bank acquired a new position in Silgan in the 4th quarter valued at $41,921,000. Janus Henderson Group PLC increased its stake in Silgan by 95.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock valued at $59,462,000 after buying an additional 598,472 shares during the period. Boston Trust Walden Corp increased its stake in Silgan by 20.6% in the 2nd quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock valued at $79,776,000 after buying an additional 322,511 shares during the period. Wellington Management Group LLP increased its stake in Silgan by 5.8% in the 4th quarter. Wellington Management Group LLP now owns 4,466,816 shares of the industrial products company’s stock valued at $202,123,000 after buying an additional 246,813 shares during the period. Finally, SG Capital Management LLC acquired a new position in Silgan in the 1st quarter valued at $8,584,000. 70.25% of the stock is owned by institutional investors and hedge funds.

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.