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

Silgan (NYSE:SLGNFree Report) had its target price increased by Bank of America from $60.00 to $61.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other equities research analysts have also issued reports on the stock. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada increased their price target on Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, Truist Financial boosted their price objective on Silgan from $63.00 to $69.00 and gave the company a “buy” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.75.

Check Out Our Latest Research Report on SLGN

Silgan Stock Down 0.3 %

Shares of SLGN stock opened at $50.88 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. Silgan has a twelve month low of $41.14 and a twelve month high of $58.14. The stock has a 50 day moving average of $54.04 and a 200 day moving average of $50.69. The stock has a market cap of $5.43 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.44 and a beta of 0.71.

Silgan (NYSE:SLGNGet Free Report) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) 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 firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the firm earned $1.16 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts expect that Silgan will post 3.6 EPS for the current year.

Silgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.19 per share. 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 payout ratio is 27.54%.

Hedge Funds Weigh In On Silgan

Several hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new stake in Silgan during the 2nd quarter valued at about $70,000. Venturi Wealth Management LLC boosted its holdings in shares of Silgan by 220.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 963 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Silgan by 51.8% in the third quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock valued at $93,000 after purchasing an additional 606 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Silgan in the second quarter valued at approximately $104,000. Finally, KBC Group NV lifted its position in Silgan by 27.7% during the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after buying an additional 494 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Silgan (NYSE:SLGN)

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