Silgan (NYSE:SLGN) Price Target Raised to $61.00

Silgan (NYSE:SLGN - Free Report) had its price target hoisted by Bank of America from $60.00 to $61.00 in a research note issued to investors on Monday,Benzinga reports. Bank of America currently has a buy rating on the industrial products company's stock.

A number of other research analysts also recently weighed in on SLGN. Truist Financial upped their target price on Silgan from $63.00 to $69.00 and gave the stock a "buy" rating in a report on Monday. StockNews.com cut Silgan from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada raised their price objective on Silgan from $58.00 to $63.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.75.

Silgan Trading Down 0.3 %

SLGN traded down $0.13 on Monday, hitting $50.88. 567,447 shares of the company were exchanged, compared to its average volume of 499,816. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. Silgan has a 12 month low of $41.14 and a 12 month high of $58.14. The firm has a fifty day simple moving average of $54.04 and a two-hundred day simple moving average of $50.69. The stock has a market capitalization of $5.43 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.44 and a beta of 0.71.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings results 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). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm earned $1.16 EPS. The business's revenue was down 3.2% on a year-over-year basis. Sell-side analysts expect that Silgan will post 3.6 earnings per share for the current year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, December 2nd. Silgan's dividend payout ratio is presently 27.54%.

Institutional Trading of Silgan

Several institutional investors have recently bought and sold shares of SLGN. Dimensional Fund Advisors LP grew its holdings in shares of 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 valued at $125,404,000 after buying an additional 204,384 shares during the last quarter. Choreo LLC purchased a new position in shares of Silgan in the second quarter worth $498,000. Nicola Wealth Management LTD. lifted its holdings in shares of Silgan by 24.4% during the third quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company's stock valued at $5,087,000 after purchasing an additional 19,000 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of Silgan during the third quarter valued at $2,975,000. Finally, BNP Paribas Financial Markets increased its holdings in Silgan by 144.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company's stock worth $2,884,000 after buying an additional 32,432 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.