Silgan Holdings Inc. (NYSE:SLGN) Receives $63.44 Consensus Price Target from Brokerages

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been assigned an average recommendation of “Buy” from the nine analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $63.89.

SLGN has been the subject of several recent research reports. Bank of America reiterated a “neutral” rating and set a $59.00 target price (up from $57.00) on shares of Silgan in a report on Wednesday, July 9th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Silgan in a research report on Tuesday. Citigroup lifted their target price on shares of Silgan from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. raised shares of Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 target price for the company in a research report on Thursday, May 1st. Finally, Truist Financial set a $67.00 target price on shares of Silgan and gave the stock a “buy” rating in a research report on Friday, July 11th.

Silgan Price Performance

SLGN stock opened at $54.83 on Monday. The firm has a 50 day moving average price of $54.82 and a 200-day moving average price of $52.79. Silgan has a 52-week low of $44.37 and a 52-week high of $58.14. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.25 and a beta of 0.75. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.67 and a current ratio of 1.14.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. Silgan had a net margin of 4.82% and a return on equity of 20.00%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the business earned $0.69 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast that Silgan will post 4.11 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Monday, June 2nd. Silgan’s dividend payout ratio (DPR) is 29.74%.

Insiders Place Their Bets

In other Silgan news, VP B Frederik Prinzen sold 2,378 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the sale, the vice president owned 1,380 shares in the company, valued at $74,589. The trade was a 63.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert B. Lewis sold 10,000 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $55.92, for a total transaction of $559,200.00. Following the completion of the sale, the executive vice president owned 153,378 shares in the company, valued at approximately $8,576,897.76. The trade was a 6.12% decrease in their position. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by insiders.

Institutional Trading of Silgan

Hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group raised its position in shares of Silgan by 4,394.1% during the 1st quarter. Brooklyn Investment Group now owns 764 shares of the industrial products company’s stock valued at $39,000 after buying an additional 747 shares in the last quarter. CX Institutional purchased a new stake in shares of Silgan during the 1st quarter valued at about $42,000. UMB Bank n.a. raised its position in shares of Silgan by 254.9% during the 1st quarter. UMB Bank n.a. now owns 898 shares of the industrial products company’s stock valued at $46,000 after buying an additional 645 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Silgan during the 1st quarter valued at about $51,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Silgan during the 1st quarter valued at about $54,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

About Silgan

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.