Shiloh Industries, Inc. (SHLO) Coverage Initiated by Analysts at Bank of America Corporation
Bank of America Corporation initiated coverage on shares of Shiloh Industries, Inc. (NASDAQ:SHLO) in a research note issued to investors on Thursday. The firm issued a neutral rating and a $9.50 price target on the basic materials company’s stock.
Several other equities analysts have also commented on SHLO. TheStreet lowered shares of Shiloh Industries from a c rating to a d+ rating in a research note on Wednesday, May 17th. ValuEngine lowered shares of Shiloh Industries from a buy rating to a hold rating in a research note on Wednesday, July 12th. Finally, BMO Capital Markets started coverage on shares of Shiloh Industries in a research note on Wednesday, August 16th. They issued an outperform rating and a $11.00 price target on the stock.
Shiloh Industries (NASDAQ:SHLO) traded up 0.11% during mid-day trading on Thursday, reaching $8.95. 98,548 shares of the company were exchanged. The stock has a 50-day moving average of $8.18 and a 200 day moving average of $11.60. Shiloh Industries has a 1-year low of $6.50 and a 1-year high of $16.69. The firm has a market capitalization of $206.95 million, a P/E ratio of 29.34 and a beta of 2.14.
Shiloh Industries (NASDAQ:SHLO) last announced its quarterly earnings results on Tuesday, August 29th. The basic materials company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.02. The company had revenue of $256.85 million during the quarter, compared to analysts’ expectations of $236.40 million. Shiloh Industries had a net margin of 0.52% and a return on equity of 10.67%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. Equities research analysts forecast that Shiloh Industries will post $0.60 earnings per share for the current year.
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In other news, major shareholder Mtd Holdings Inc sold 500,000 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $7.76, for a total value of $3,880,000.00. Following the completion of the sale, the insider now directly owns 7,300,866 shares of the company’s stock, valued at $56,654,720.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 51.70% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Eagle Global Advisors LLC boosted its holdings in shares of Shiloh Industries by 22.3% in the second quarter. Eagle Global Advisors LLC now owns 22,050 shares of the basic materials company’s stock valued at $259,000 after acquiring an additional 4,020 shares during the period. Algert Global LLC boosted its holdings in shares of Shiloh Industries by 36.0% in the second quarter. Algert Global LLC now owns 123,479 shares of the basic materials company’s stock valued at $1,450,000 after acquiring an additional 32,654 shares during the period. Weber Alan W boosted its holdings in shares of Shiloh Industries by 0.9% in the second quarter. Weber Alan W now owns 296,679 shares of the basic materials company’s stock valued at $3,483,000 after acquiring an additional 2,521 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Shiloh Industries by 50.5% in the second quarter. Acadian Asset Management LLC now owns 77,491 shares of the basic materials company’s stock valued at $910,000 after acquiring an additional 26,012 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Shiloh Industries by 158.9% in the second quarter. Northern Trust Corp now owns 129,637 shares of the basic materials company’s stock valued at $1,522,000 after acquiring an additional 79,566 shares during the period. 21.70% of the stock is owned by institutional investors and hedge funds.
About Shiloh Industries
Shiloh Industries, Inc is a supplier of lightweighting, noise and vibration solutions to the automotive, commercial vehicle and industrial markets. The Company operates through Automotive and Commercial Vehicles segment. The Company offers portfolio of lightweighting solutions in aluminum, magnesium, steel and high strength steel alloys.
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