Analysts Set Silgan Holdings Inc. (NYSE:SLGN) Target Price at $57.00

Silgan Holdings Inc. (NYSE:SLGN) has received an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $57.00.

SLGN has been the topic of several recent analyst reports. Royal Bank of Canada increased their price objective on shares of Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $59.00 price target (up previously from $56.00) on shares of Silgan in a report on Thursday, August 1st. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and increased their target price for the company from $46.00 to $53.00 in a research note on Thursday, August 1st. Finally, Citigroup boosted their target price on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st.

Silgan Price Performance

Shares of NYSE SLGN opened at $52.02 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06. The company has a 50 day simple moving average of $49.20 and a two-hundred day simple moving average of $46.94. Silgan has a fifty-two week low of $38.11 and a fifty-two week high of $52.84. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 1.49 and a beta of 0.67.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the company earned $0.83 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts expect that Silgan will post 3.66 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.46%. Silgan’s dividend payout ratio is currently 26.67%.

Insider Activity

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the transaction, the vice president now owns 11,495 shares of the company’s stock, valued at $563,714.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.39% of the company’s stock.

Institutional Trading of Silgan

Several hedge funds have recently bought and sold shares of SLGN. Nordea Investment Management AB raised its stake in shares of Silgan by 118.0% in the first quarter. Nordea Investment Management AB now owns 201,258 shares of the industrial products company’s stock worth $9,755,000 after buying an additional 108,942 shares during the period. Choreo LLC purchased a new stake in shares of Silgan in the second quarter worth $498,000. Seven Eight Capital LP bought a new stake in shares of Silgan during the 1st quarter valued at $1,129,000. State Board of Administration of Florida Retirement System lifted its position in shares of Silgan by 17.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock valued at $4,769,000 after acquiring an additional 13,289 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Silgan by 6.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,580,856 shares of the industrial products company’s stock valued at $109,248,000 after buying an additional 163,853 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Silgan Company Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers a range of metal and plastic closures, and dispensing systems for food, beverage, health care, garden, home, personal care, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.