Analysts Set Silgan Holdings Inc. (NYSE:SLGN) PT at $59.75

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $59.75.

A number of equities analysts recently issued reports on SLGN shares. Truist Financial upped their price target on Silgan from $63.00 to $69.00 and gave the company a “buy” rating in a report on Monday, January 6th. Bank of America boosted their price target on shares of Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada lifted their target price on Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th.

Silgan Stock Performance

Shares of SLGN stock opened at $52.44 on Monday. The firm has a 50 day moving average of $53.73 and a two-hundred day moving average of $51.41. The stock has a market capitalization of $5.60 billion, a PE ratio of 19.00, a P/E/G ratio of 1.21 and a beta of 0.71. 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 has a 52 week low of $41.14 and a 52 week high of $58.14.

Silgan (NYSE:SLGN) last released 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). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 earnings per share. On average, research analysts predict that Silgan will post 3.6 EPS for the current fiscal year.

Silgan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders 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 yield of 1.45%. Silgan’s dividend payout ratio (DPR) is presently 27.54%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Silgan by 2.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company’s stock valued at $453,000 after purchasing an additional 267 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Silgan by 7.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company’s stock worth $290,000 after purchasing an additional 361 shares during the period. Verdence Capital Advisors LLC raised its holdings in shares of Silgan by 5.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock valued at $390,000 after buying an additional 388 shares during the period. AQR Capital Management LLC lifted its position in Silgan by 1.1% during the 2nd quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock worth $1,594,000 after acquiring an additional 421 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Silgan by 5.7% in the 3rd quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 456 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.