Silgan Holdings Inc. (NYSE:SLGN) Receives $57.00 Consensus Target Price from Analysts

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been given an average rating of “Moderate Buy” by the seven analysts that are presently covering the company, Marketbeat.com 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 price target among analysts that have issued ratings on the stock in the last year is $57.00.

Several research analysts recently commented on SLGN shares. StockNews.com raised Silgan from a “hold” rating to a “buy” rating in a research report on Friday. Truist Financial reissued a “buy” rating and issued a $59.00 target price (up from $56.00) on shares of Silgan in a research note on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Royal Bank of Canada lifted their price target on Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company upped their price objective on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st.

Silgan Price Performance

Shares of SLGN opened at $51.37 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31. Silgan has a twelve month low of $38.11 and a twelve month high of $52.84. The stock has a market capitalization of $5.49 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.49 and a beta of 0.67. The company has a 50 day moving average of $49.52 and a 200-day moving average of $47.06.

Silgan (NYSE:SLGN) last released its earnings results 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 net margin of 5.24% and a return on equity of 19.22%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm earned $0.83 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, equities research analysts forecast that Silgan will post 3.66 EPS for the current fiscal year.

Silgan Announces Dividend

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

Insiders Place Their Bets

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SLGN. TFO Wealth Partners LLC grew its holdings 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 purchasing an additional 527 shares during the last quarter. Blue Trust Inc. lifted its holdings in 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 buying an additional 426 shares during the period. Principal Securities Inc. bought a new stake in shares of Silgan in the 4th quarter valued at about $30,000. Covestor Ltd increased its stake in shares of Silgan by 69.7% in the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after buying an additional 462 shares during the period. Finally, Versant Capital Management Inc raised 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. 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.