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

Silgan Holdings Inc. (NYSE:SLGN) has earned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $59.75.

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

Silgan Price Performance

SLGN opened at $52.46 on Monday. The stock’s 50 day moving average price is $53.68 and its 200-day moving average price is $51.61. Silgan has a 52-week low of $41.14 and a 52-week high of $58.14. The stock has a market capitalization of $5.60 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.26 and a beta of 0.71. 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 (NYSE:SLGN) last issued its quarterly earnings data 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 return on equity of 18.76% and a net margin of 5.11%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the business earned $1.16 earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities research analysts predict that Silgan will post 3.6 EPS for the current year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, December 2nd. Silgan’s payout ratio is currently 27.54%.

Hedge Funds Weigh In On Silgan

Hedge funds have recently bought and sold shares of the business. Venturi Wealth Management LLC grew its stake in shares of Silgan by 220.4% in the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 963 shares during the period. GAMMA Investing LLC boosted its holdings in Silgan by 51.8% in the third quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 606 shares during the last quarter. KBC Group NV grew its position 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 during the period. Northwestern Mutual Wealth Management Co. raised its stake 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 valued at $132,000 after buying an additional 3,101 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Silgan by 226.0% during the 2nd quarter. Quarry LP now owns 3,589 shares of the industrial products company’s stock valued at $152,000 after buying an additional 2,488 shares during the period. Hedge funds and other institutional investors 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.