Price Action Don’t Lie: What’s Silgan Holdings Inc. Downside After Today’s Huge Decline?

Price Action Don't Lie: What's Silgan Holdings Inc. Downside After Today's Huge Decline?

The stock of Silgan Holdings Inc. (NASDAQ:SLGN) is a huge mover today! About 1.04M shares traded hands or 120.33% up from the average. Silgan Holdings Inc. (NASDAQ:SLGN) has declined 4.21% since April 14, 2016 and is downtrending. It has underperformed by 8.90% the S&P500.
The move comes after 5 months negative chart setup for the $3.00B company. It was reported on Nov, 16 by Barchart.com. We have $44.97 PT which if reached, will make NASDAQ:SLGN worth $270.00 million less.

Silgan Holdings Inc. (NASDAQ:SLGN) Ratings Coverage

Out of 10 analysts covering Silgan Holdings Inc. (NASDAQ:SLGN), 2 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 20% are positive. Silgan Holdings Inc. has been the topic of 14 analyst reports since September 15, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Wells Fargo given on Tuesday, January 19. The firm has “Neutral” rating by JP Morgan given on Tuesday, September 13. The stock of Silgan Holdings Inc. (NASDAQ:SLGN) earned “Market Perform” rating by BMO Capital Markets on Wednesday, June 8. On Tuesday, January 5 the stock rating was upgraded by Robert W. Baird to “Outperform”. BMO Capital Markets upgraded Silgan Holdings Inc. (NASDAQ:SLGN) on Thursday, January 21 to “Market Perform” rating. Goldman Sachs initiated the shares of SLGN in a report on Thursday, May 12 with “Neutral” rating. The stock of Silgan Holdings Inc. (NASDAQ:SLGN) has “Neutral” rating given on Tuesday, July 19 by Citigroup. On Friday, March 18 the stock rating was downgraded by Bank of America to “Underperform”. Barclays Capital maintained Silgan Holdings Inc. (NASDAQ:SLGN) on Monday, October 26 with “Equal Weight” rating. Citigroup maintained Silgan Holdings Inc. (NASDAQ:SLGN) on Tuesday, August 2 with “Neutral” rating.

According to Zacks Investment Research, “SILGAN HOLDINGS is a holding company. Through its wholly owned subsidiaries, the company is engaged in the packaging industry and has three business units: Metal Food Container Business, Plastic Container Business and Specialty Packaging Business.”

Insitutional Activity: The institutional sentiment decreased to 1.35 in Q2 2016. Its down 0.22, from 1.57 in 2016Q1. The ratio fall, as 23 funds sold all Silgan Holdings Inc. shares owned while 52 reduced positions. 17 funds bought stakes while 84 increased positions. They now own 40.53 million shares or 0.02% more from 40.52 million shares in 2016Q1.
Great West Life Assurance Communications Can last reported 0% of its portfolio in the stock. Moreover, Bokf Na has 0.01% invested in Silgan Holdings Inc. (NASDAQ:SLGN) for 5,702 shares. Great Lakes Advsr Limited Liability Company accumulated 0.05% or 32,482 shares. Bank & Trust Of Mellon Corp last reported 0.01% of its portfolio in the stock. Sg Americas Secs Ltd Liability Corp owns 17,894 shares or 0.01% of their US portfolio. Ftb Advsr has 597 shares for 0% of their US portfolio. Moreover, Bank Of Montreal Can has 0% invested in Silgan Holdings Inc. (NASDAQ:SLGN) for 13,873 shares. Checchi Capital Advisers Ltd Limited Liability Company has 671 shares for 0% of their US portfolio. Ameriprise Fincl Inc accumulated 103,953 shares or 0% of the stock. Teacher Retirement Systems Of Texas holds 0.01% or 18,077 shares in its portfolio. Twin Cap Mngmt owns 30,638 shares or 0.12% of their US portfolio. Thrivent For Lutherans has 0% invested in the company for 5,750 shares. Citadel Limited Liability accumulated 0.02% or 277,415 shares. Parallax Volatility Advisers L P accumulated 3 shares or 0% of the stock. Ngam Advisors L P holds 0.12% or 163,454 shares in its portfolio.

Insider Transactions: Since May 25, 2016, the stock had 0 insider buys, and 3 selling transactions for $137,675 net activity. Andreacchi Anthony P sold $30,432 worth of Silgan Holdings Inc. (NASDAQ:SLGN) on Wednesday, May 25. $48,049 worth of shares were sold by Prinzen B Frederik on Thursday, August 18.

SLGN Company Profile

Silgan Holdings Inc. (Silgan), incorporated on April 6, 1989, is a maker of rigid packaging for shelf-stable food and other consumer goods products. The Firm operates through three divisions: metal container, closures and plastic container. The Company’s products include steel and aluminum containers for human and pet food and general line products; metal, composite and plastic closures for food and beverage products, and custom designed plastic containers and closures for personal care, food, healthcare, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive and marine chemical products. It operates approximately 90 manufacturing plants in North America, Europe, Asia and South America.

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