Silgan Holdings Inc. (NYSE:SLGN) Receives $64.22 Average PT from Brokerages

Silgan Holdings Inc. (NYSE:SLGN) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $64.22.

Several equities research analysts have recently weighed in on SLGN shares. Bank of America increased their price objective on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. increased their price objective on shares of Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Robert W. Baird increased their price objective on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Raymond James increased their price objective on shares of Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company increased their price objective on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th.

Silgan Trading Up 0.9 %

Shares of NYSE SLGN opened at $54.15 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. Silgan has a 52-week low of $41.14 and a 52-week high of $58.14. The firm has a 50 day moving average price of $52.96 and a two-hundred day moving average price of $52.45. The stock has a market cap of $5.78 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 1.24 and a beta of 0.71.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. As a group, equities analysts forecast that Silgan will post 4.11 EPS for the current year.

Insider Buying and Selling

In related news, EVP Robert B. Lewis sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the completion of the sale, the executive vice president now owns 152,133 shares in the company, valued at approximately $8,096,518.26. This trade represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Silgan

Large investors have recently added to or reduced their stakes in the stock. Nicola Wealth Management LTD. increased its stake in shares of Silgan by 24.4% in the third quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company’s stock worth $5,087,000 after purchasing an additional 19,000 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Silgan in the third quarter worth about $2,975,000. BNP Paribas Financial Markets increased its stake in shares of Silgan by 144.1% in the third quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock worth $2,884,000 after purchasing an additional 32,432 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Silgan by 1.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock worth $137,047,000 after purchasing an additional 29,565 shares in the last quarter. Finally, Versor Investments LP increased its stake in shares of Silgan by 112.7% in the third quarter. Versor Investments LP now owns 10,208 shares of the industrial products company’s stock worth $536,000 after purchasing an additional 5,408 shares in the last quarter. 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.