Silgan Holdings Inc. (NYSE:SLGN - Get Free Report)'s stock price reached a new 52-week high during trading on Monday after Royal Bank of Canada raised their price target on the stock from $55.00 to $58.00. Royal Bank of Canada currently has an outperform rating on the stock. Silgan traded as high as $53.57 and last traded at $53.42, with a volume of 12759 shares traded. The stock had previously closed at $52.64.
SLGN has been the subject of a number of other reports. Robert W. Baird raised their target price on Silgan from $53.00 to $60.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of Silgan from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th. Truist Financial reiterated a "buy" rating and set a $59.00 target price (up from $56.00) on shares of Silgan in a research report on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. Finally, Wells Fargo & Company increased their price objective on Silgan from $54.00 to $58.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.43.
Check Out Our Latest Stock Analysis on Silgan
Institutional Trading of Silgan
A number of hedge funds have recently modified their holdings of SLGN. Blue Trust Inc. grew its stake in Silgan by 256.6% in the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 426 shares during the period. Versant Capital Management Inc increased its stake in Silgan by 2,838.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company's stock worth $49,000 after purchasing an additional 1,107 shares in the last quarter. GAMMA Investing LLC raised its holdings in Silgan by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company's stock worth $50,000 after buying an additional 613 shares during the period. Covestor Ltd boosted its holdings in shares of Silgan by 69.7% in the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company's stock valued at $55,000 after buying an additional 462 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Silgan during the second quarter worth $70,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.
Silgan Stock Up 0.8 %
The firm has a market capitalization of $5.67 billion, a P/E ratio of 19.23, a PEG ratio of 1.26 and a beta of 0.67. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 0.52. The firm's 50-day moving average is $51.26 and its 200 day moving average is $48.13.
Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The firm's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.16 earnings per share. As a group, equities research analysts predict that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.
Silgan Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Tuesday, September 3rd. Silgan's payout ratio is 27.54%.
About Silgan
(
Get Free Report)
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.
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