Loop Capital Raises Silgan (NYSE:SLGN) Price Target to $75.00

Silgan (NYSE:SLGN - Free Report) had its price objective boosted by Loop Capital from $70.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. Loop Capital currently has a buy rating on the industrial products company's stock.

A number of other brokerages have also weighed in on SLGN. JPMorgan Chase & Co. raised their target price on shares of Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday. Raymond James upped their price target on Silgan from $62.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday. Bank of America upped their price target on Silgan from $60.00 to $61.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Royal Bank of Canada raised their target price on shares of Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, StockNews.com downgraded shares of Silgan from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.22.

Silgan Price Performance

Shares of Silgan stock traded down $0.26 during trading on Thursday, hitting $54.76. 956,640 shares of the company's stock traded hands, compared to its average volume of 691,269. Silgan has a twelve month low of $41.14 and a twelve month high of $58.14. The company has a market cap of $5.85 billion, a PE ratio of 21.22, a PEG ratio of 1.26 and a beta of 0.71. The firm's fifty day moving average price is $53.59 and its 200 day moving average price is $52.02. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. Analysts forecast that Silgan will post 4.11 earnings per share for the current year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.19 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.39%. Silgan's dividend payout ratio is presently 29.46%.

Institutional Investors Weigh In On Silgan

Several hedge funds have recently made changes to their positions in SLGN. Squarepoint Ops LLC raised its holdings in shares of Silgan by 37.8% in the 2nd quarter. Squarepoint Ops LLC now owns 45,109 shares of the industrial products company's stock worth $1,909,000 after purchasing an additional 12,367 shares during the period. AQR Capital Management LLC boosted its position in shares of Silgan by 1.1% during the second quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company's stock worth $1,594,000 after buying an additional 421 shares during the period. Millennium Management LLC raised its position in shares of Silgan by 62.5% during the 2nd quarter. Millennium Management LLC now owns 322,482 shares of the industrial products company's stock worth $13,651,000 after buying an additional 124,020 shares in the last quarter. Algert Global LLC bought a new position in Silgan during the second quarter valued at about $363,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 acquiring an additional 3,101 shares in 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.