Silgan (SLGN) Stock Rating Upgraded by Barclays
Barclays upgraded shares of Silgan (NASDAQ:SLGN) from an equal weight rating to an overweight rating in a report released on Monday morning, Marketbeat Ratings reports. Barclays currently has $35.00 price objective on the industrial products company’s stock, up from their prior price objective of $30.00.
Several other research analysts have also recently issued reports on SLGN. Bank of America increased their price objective on shares of Silgan from $32.00 to $33.00 and gave the company an underperform rating in a report on Thursday, February 1st. Zacks Investment Research upgraded shares of Silgan from a hold rating to a buy rating and set a $33.00 price objective for the company in a report on Monday, February 5th. KeyCorp reiterated a sell rating and issued a $25.00 price objective on shares of Silgan in a report on Thursday, February 1st. Vertical Research upgraded shares of Silgan from a hold rating to a buy rating in a report on Tuesday, January 23rd. Finally, BMO Capital Markets reissued a buy rating and set a $34.00 target price on shares of Silgan in a research note on Monday, November 20th. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $31.20.
Silgan (SLGN) opened at $28.14 on Monday. The company has a quick ratio of 0.17, a current ratio of 0.38 and a debt-to-equity ratio of 3.96. The stock has a market cap of $3,089.34, a P/E ratio of 11.63, a PEG ratio of 1.34 and a beta of 0.49. Silgan has a 1-year low of $27.21 and a 1-year high of $32.50.
In related news, Director D Greg Horrigan sold 355,934 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $28.01, for a total value of $9,969,711.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William C. Jennings sold 25,642 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $28.38, for a total transaction of $727,719.96. Following the completion of the sale, the director now owns 42,180 shares of the company’s stock, valued at approximately $1,197,068.40. The disclosure for this sale can be found here. 33.10% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Assetmark Inc. lifted its position in shares of Silgan by 162.3% in the 4th quarter. Assetmark Inc. now owns 4,320 shares of the industrial products company’s stock valued at $127,000 after acquiring an additional 2,673 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Silgan in the 4th quarter valued at approximately $158,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Silgan in the 3rd quarter valued at approximately $167,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Silgan in the 4th quarter valued at approximately $199,000. Finally, Breton Hill Capital Ltd. purchased a new stake in shares of Silgan in the 3rd quarter valued at approximately $218,000. Institutional investors and hedge funds own 66.83% of the company’s stock.
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.
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