Loop Capital Forecasts Strong Price Appreciation for Silgan (NYSE:SLGN) Stock

Silgan (NYSE:SLGN) had its target price hoisted by Loop Capital from $70.00 to $75.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

SLGN has been the subject of several other reports. Raymond James upped their target price on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Bank of America raised their target price 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. Wells Fargo & Company upped their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada lifted their price objective on shares of Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.22.

Silgan Trading Down 1.9 %

Shares of SLGN opened at $55.10 on Thursday. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 1.34 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. Silgan has a 1-year low of $41.14 and a 1-year high of $58.14. The company has a 50-day moving average of $53.64 and a 200 day moving average of $51.92.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.77%. On average, research analysts expect that Silgan will post 4.09 EPS for the current year.

Silgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Monday, December 2nd. Silgan’s dividend payout ratio is currently 29.46%.

Institutional Trading of Silgan

A number of institutional investors have recently made changes to their positions in SLGN. Bank of Jackson Hole Trust acquired a new position in Silgan during the 4th quarter valued at about $59,000. Venturi Wealth Management LLC increased its holdings in shares of 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 acquiring an additional 963 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Silgan by 51.8% in the 3rd 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 during the last quarter. KBC Group NV boosted its stake in Silgan by 27.7% in the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 494 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Silgan by 13,482.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,124 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 3,101 shares during the last quarter. 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.