Silgan (NYSE:SLGN) Price Target Raised to $63.00

Silgan (NYSE:SLGN) had its target price increased by Royal Bank of Canada from $58.00 to $63.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Separately, StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.14.

Silgan Stock Up 0.5 %

Shares of SLGN stock opened at $52.18 on Thursday. The stock has a 50 day moving average of $53.90 and a 200-day moving average of $50.07. Silgan has a 12 month low of $41.14 and a 12 month high of $58.14. The firm has a market cap of $5.57 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24.

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

Silgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.19 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.46%. Silgan’s dividend payout ratio (DPR) is 27.54%.

Hedge Funds Weigh In On Silgan

Large investors have recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of 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 last quarter. Headlands Technologies LLC bought a new stake in Silgan during the second quarter worth about $70,000. Venturi Wealth Management LLC boosted its position in Silgan by 220.4% during the third 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. GAMMA Investing LLC grew its stake in Silgan by 51.8% in the third quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock valued at $93,000 after purchasing an additional 606 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Silgan during the 2nd quarter worth approximately $104,000. Institutional investors and hedge funds 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.