Silgan (NYSE:SLGN) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Silgan (NYSE:SLGN) from a hold rating to a buy rating in a research report report published on Friday morning.

SLGN has been the topic of several other reports. Citigroup increased 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. Robert W. Baird increased their target price on Silgan from $53.00 to $60.00 and gave the stock an outperform rating in a research report on Thursday, August 1st. Royal Bank of Canada increased 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. Truist Financial reaffirmed a buy rating and issued a $59.00 target price (up from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised Silgan from an underweight rating to a neutral rating and increased their target price for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $57.00.

Silgan Stock Down 1.3 %

SLGN opened at $51.32 on Friday. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.49 and a beta of 0.67. Silgan has a 12 month low of $38.11 and a 12 month high of $52.84. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.06 and a quick ratio of 0.64. The business has a 50-day moving average of $49.38 and a two-hundred day moving average of $46.97.

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

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, September 3rd. Silgan’s dividend payout ratio (DPR) is presently 26.67%.

Insider Buying and Selling at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the transaction, the vice president now directly owns 11,495 shares of the company’s stock, valued at $563,714.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Silgan

Hedge funds and other institutional investors have recently modified their holdings of the business. TFO Wealth Partners LLC increased its position in shares of Silgan by 10,540.0% during the fourth quarter. TFO Wealth Partners LLC now owns 532 shares of the industrial products company’s stock worth $226,000 after acquiring an additional 527 shares during the last quarter. Blue Trust Inc. increased its position in shares of Silgan by 256.6% during the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 426 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Silgan during the fourth quarter worth about $30,000. Covestor Ltd increased its position in shares of Silgan by 69.7% during the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 462 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Silgan by 2,838.5% during the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 1,107 shares during the last quarter. 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.