Silgan Holdings Inc. (NYSE:SLGN) Receives $52.75 Consensus Target Price from Analysts

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $52.75.

Several brokerages recently issued reports on SLGN. Truist Financial raised their price target on Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Wells Fargo & Company lifted their target price on Silgan from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Raymond James lifted their target price on Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. lifted their price target on Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a research report on Thursday, February 1st. Finally, Royal Bank of Canada lifted their price target on Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st.

Insider Transactions at Silgan

In related news, VP B Frederik Prinzen sold 4,684 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $43.89, for a total transaction of $205,580.76. Following the completion of the sale, the vice president now owns 8,613 shares in the company, valued at approximately $378,024.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 13.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SLGN. Raymond James & Associates boosted its position in shares of Silgan by 21.6% in the 1st quarter. Raymond James & Associates now owns 32,571 shares of the industrial products company’s stock worth $1,506,000 after purchasing an additional 5,788 shares during the last quarter. Citigroup Inc. boosted its position in shares of Silgan by 5.4% in the 1st quarter. Citigroup Inc. now owns 12,553 shares of the industrial products company’s stock worth $579,000 after purchasing an additional 640 shares during the last quarter. Natixis Advisors L.P. boosted its position in shares of Silgan by 9.0% in the 1st quarter. Natixis Advisors L.P. now owns 27,788 shares of the industrial products company’s stock worth $1,285,000 after purchasing an additional 2,288 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Silgan by 3.3% in the 1st quarter. Bank of Montreal Can now owns 21,702 shares of the industrial products company’s stock worth $1,009,000 after purchasing an additional 703 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Silgan in the 1st quarter worth $89,000. 70.25% of the stock is currently owned by institutional investors.

Silgan Price Performance

SLGN stock opened at $48.56 on Tuesday. Silgan has a 1 year low of $38.11 and a 1 year high of $54.92. The stock has a 50-day simple moving average of $44.51 and a 200-day simple moving average of $43.29. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.61 and a current ratio of 1.02. The firm has a market cap of $5.17 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 2.49 and a beta of 0.67.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Silgan had a return on equity of 20.29% and a net margin of 5.44%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.39 billion. On average, equities analysts predict that Silgan will post 3.67 earnings per share for the current fiscal year.

Silgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.19 per share. This is a boost from Silgan’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.57%. Silgan’s dividend payout ratio (DPR) is presently 25.50%.

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.