Silgan Holdings Inc. (NYSE:SLGN) Receives $57.00 Average PT from Brokerages

Shares of Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) have earned an average rating of "Moderate Buy" from the seven research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $57.00.

A number of equities analysts recently commented on SLGN shares. Citigroup lifted their price objective on Silgan from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Royal Bank of Canada lifted their price objective on Silgan from $51.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. Truist Financial reiterated a "buy" rating and issued a $59.00 target price (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. Robert W. Baird lifted their target price on Silgan from $53.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upgraded Silgan from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $46.00 to $53.00 in a report on Thursday, August 1st.

Insider Activity

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the business's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares in the company, valued at $563,714.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.39% of the company's stock.

Institutional Investors Weigh In On Silgan

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nordea Investment Management AB grew its holdings in Silgan by 118.0% during the first quarter. Nordea Investment Management AB now owns 201,258 shares of the industrial products company's stock worth $9,755,000 after buying an additional 108,942 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Silgan by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company's stock worth $125,404,000 after buying an additional 204,384 shares in the last quarter. Choreo LLC bought a new stake in Silgan during the second quarter worth $498,000. Seven Eight Capital LP bought a new stake in Silgan during the first quarter worth $1,129,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in Silgan by 17.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company's stock worth $4,769,000 after buying an additional 13,289 shares in the last quarter. Institutional investors own 70.25% of the company's stock.

Silgan Stock Performance

Shares of SLGN stock opened at $51.57 on Friday. The business's 50-day moving average price is $50.68 and its 200-day moving average price is $47.75. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.48 and a beta of 0.67. Silgan has a 12 month low of $38.11 and a 12 month high of $52.84.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.01. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The firm's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 earnings per share. Equities research analysts forecast that Silgan will post 3.66 EPS for the current year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.47%. Silgan's dividend payout ratio is 26.67%.

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.