Why Silgan Holdings (SLGN) is a Top Momentum Stock for the Long-Term

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

Silgan Holdings (SLGN)

Silgan Holdings is a leading supplier of rigid packaging for consumer goods products. Its products are used in diverse end markets. It is the largest metal-container supplier for food products in North America. Silgan operates 113 manufacturing facilities in North and South America, Europe and Asia. Its product lines include steel and aluminum containers for human and pet food; custom-designed plastic containers for personal care, healthcare, pharmaceutical, household, industrial chemical, food, pet care, agricultural chemical, automotive and marine chemical products; and metal, composite and plastic closures for food and beverage products.

SLGN sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of A. The stock is up 0.6% and up 2.5% over the past one-week and four-week period, respectively, and Silgan Holdings has lost 16.3% in the last one-year period as well. Additionally, an average of 604,641.06 shares were traded over the last 20 trading sessions.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.03 to $3.67 per share. SLGN boasts an average earnings surprise of 0.4%.

Investors should take the time to consider SLGN for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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Silgan Holdings Inc. (SLGN) : Free Stock Analysis Report

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