Silgan Holdings (SLGN) is Downgraded by Wells Fargo to Market Perform

Silgan Holdings (SLGN) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Jul 28, 2016.

Many Wall Street Analysts have commented on Silgan Holdings. Silgan Holdings was Initiated by Goldman to “Neutral” on May 12, 2016.

On the company’s financial health, Silgan Holdings reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.56. The company had revenue of $874.60 million for the quarter, compared to analysts expectations of $892.86 million. The company’s revenue was down -4.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.71 EPS.

Silgan Holdings opened for trading at $49.18 and hit $50.25 on the upside on Thursday, eventually ending the session at $50.03, with a gain of 0.08% or 0.04 points. The heightened volatility saw the trading volume jump to 4,38,675 shares. Company has a market cap of $3,025 M.

In a different news, on May 27, 2016, Anthony P Andreacchi (Vice President,Tax) sold 600 shares at $50.72 per share price. According to the SEC, on May 13, 2016, B Frederik Prinzen (Sr. V.P. – Corp. Dev.) sold 1,200 shares at $51.57 per share price. On May 6, 2016, Thomas James Snyder (President – Silgan Containers) sold 4,367 shares at $50.55 per share price, according to the Form-4 filing with the securities and exchange commission.

Silgan Holdings Inc. (Silgan) is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products. The Company operates through three segments: metal container closures and plastic container. Its metal container business is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products. Its closures business manufactures and sells metal composite and plastic closures for food and beverage products. Its plastic container business manufactures and sells custom designed plastic containers tubes and closures for personal care food health care pharmaceutical household and industrial chemical pet care agricultural automotive and marine chemical products. Its metal container business has operating facilities in North America Europe and Asia. Its closures business has operating facilities in North and South America Europe and Asia. Its plastic container business is -based in North America.

Silgan Holdings

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