Analysts Set Silgan Holdings Inc. (NYSE:SLGN) Price Target at $57.43

Shares of Silgan Holdings Inc. (NYSE:SLGN) have earned an average rating of “Moderate Buy” from the seven ratings firms that are 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 1-year target price among brokerages that have issued a report on the stock in the last year is $57.43.

SLGN has been the subject of a number of recent research reports. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada increased their price target on shares of Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st.

Hedge Funds Weigh In On Silgan

A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings 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 valued at $25,000 after acquiring an additional 426 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Silgan by 2,838.5% during the 2nd 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 in the last quarter. GAMMA Investing LLC increased its position in shares of Silgan by 109.9% during the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 613 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Silgan in the 2nd quarter valued at $70,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Silgan by 220.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 963 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.

Silgan Stock Performance

Shares of NYSE:SLGN opened at $56.75 on Friday. The firm has a market cap of $6.06 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.50 and a beta of 0.69. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. Silgan has a one year low of $41.14 and a one year high of $58.14. The firm’s 50 day simple moving average is $52.99 and its 200-day simple moving average is $49.35.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. As a group, equities analysts predict that Silgan will post 3.6 EPS for the current year.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Monday, December 2nd. Silgan’s payout ratio is currently 27.54%.

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.