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

Shares of Silgan Holdings Inc. (NYSE:SLGN) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $57.00.

A number of research firms recently commented on SLGN. Robert W. Baird lifted their price objective on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Citigroup boosted their target price on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company lifted their target price on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $46.00 to $53.00 in a report on Thursday, August 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $59.00 price objective (up previously from $56.00) on shares of Silgan in a research note on Thursday, August 1st.

Insider Activity

In other 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 completion of the transaction, the vice president now directly owns 11,495 shares in the company, valued at $563,714.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB raised its holdings in Silgan by 118.0% during 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 buying an additional 108,942 shares during the last quarter. Choreo LLC purchased a new stake in shares of Silgan during the second quarter worth about $498,000. Seven Eight Capital LP bought a new position in Silgan during the 1st quarter valued at approximately $1,129,000. State Board of Administration of Florida Retirement System lifted its holdings in Silgan by 17.6% in the 1st 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 buying an additional 13,289 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of 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 worth $109,248,000 after buying an additional 163,853 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.

Silgan Stock Performance

SLGN opened at $52.02 on Tuesday. 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 fifty day simple moving average of $49.20 and a 200 day simple moving average of $46.94. Silgan has a 1 year low of $38.11 and a 1 year high of $52.84. The company has a market capitalization of $5.55 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.49 and a beta of 0.67.

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

Silgan Announces Dividend

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

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.