Brokerages Set Silgan Holdings Inc. (NYSE:SLGN) Price Target at $57.00

by · The Markets Daily

Shares of Silgan Holdings Inc. (NYSE:SLGN – Get Free Report) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $57.00.

A number of research analysts recently issued reports on the company. Robert W. Baird increased their price objective on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Citigroup increased their price objective on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada raised their price target on Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and raised their price target for the company from $46.00 to $53.00 in a research note on Thursday, August 1st.

Get Our Latest Stock Analysis on Silgan

Silgan Trading Up 0.2 %

Shares of SLGN opened at $51.55 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31. Silgan has a 12-month low of $38.11 and a 12-month high of $52.84. The firm has a market capitalization of $5.50 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.48 and a beta of 0.67. The stock’s fifty day simple moving average is $50.85 and its 200-day simple moving average is $47.84.

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

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.47%. Silgan’s payout ratio is 26.67%.

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 stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the completion of the sale, the vice president now directly owns 11,495 shares of the company’s stock, valued at $563,714.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.39% of the company’s stock.

Institutional Trading of Silgan

A number of hedge funds have recently made changes to their positions in SLGN. Wellington Management Group LLP lifted its holdings in Silgan by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 4,466,816 shares of the industrial products company’s stock worth $202,123,000 after purchasing an additional 246,813 shares during the last quarter. Moody National Bank Trust Division lifted its holdings in Silgan by 6.9% during the 1st quarter. Moody National Bank Trust Division now owns 20,384 shares of the industrial products company’s stock worth $990,000 after purchasing an additional 1,310 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Silgan by 4.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,417,003 shares of the industrial products company’s stock worth $117,370,000 after purchasing an additional 93,040 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Silgan by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 19,900 shares of the industrial products company’s stock worth $966,000 after purchasing an additional 500 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Silgan by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 304,950 shares of the industrial products company’s stock worth $14,808,000 after purchasing an additional 7,615 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

About Silgan

(Get Free Report

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.

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