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

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

SLGN has been the topic of several research reports. Robert W. Baird upped 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. StockNews.com raised shares of Silgan from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. Citigroup upped their target price on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company raised their price objective on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st.

Silgan Stock Down 1.2 %

NYSE SLGN opened at $51.37 on Tuesday. Silgan has a 12 month low of $38.11 and a 12 month high of $52.84. The company has a market capitalization of $5.49 billion, a P/E ratio of 18.02, a PEG ratio of 1.49 and a beta of 0.67. The company’s 50 day simple moving average is $49.52 and its 200 day simple moving average is $47.06. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.06 and a quick ratio of 0.64.

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

Silgan Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.48%. Silgan’s dividend payout ratio (DPR) is presently 26.67%.

Insider Activity

In related 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 owns 11,495 shares in the company, valued at $563,714.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Silgan

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

About Silgan

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.