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

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

A number of research analysts have weighed in on SLGN shares. Wells Fargo & Company boosted their target price on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised their target price on Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Robert W. Baird lifted their price objective on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Citigroup boosted their price objective on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 1st.

Silgan Stock Performance

NYSE SLGN opened at $51.90 on Friday. The company has a market cap of $5.54 billion, a P/E ratio of 18.21, a PEG ratio of 1.48 and a beta of 0.67. The company has a fifty day simple moving average of $50.75 and a 200 day simple moving average of $47.79. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. Silgan has a 12-month low of $38.11 and a 12-month high of $52.84.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, topping 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 firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company posted $0.83 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts predict that Silgan will post 3.66 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a yield of 1.46%. Silgan’s dividend payout ratio (DPR) is presently 26.67%.

Insider Buying and Selling at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the transaction, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of Silgan by 256.6% during the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 426 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Silgan by 2,838.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after buying an additional 1,107 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Silgan by 109.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock worth $50,000 after buying an additional 613 shares during the last quarter. Covestor Ltd raised its stake in shares of Silgan by 69.7% during the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 462 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Silgan during the second quarter valued at approximately $70,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.