Brokerages Set Silgan Holdings Inc. (NYSE:SLGN) Price Target at $59.75

Silgan Holdings Inc. (NYSE:SLGN) has earned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $59.75.

Several equities analysts have recently commented on SLGN shares. Truist Financial upped their target price on Silgan from $63.00 to $69.00 and gave the company a “buy” rating in a report on Monday, January 6th. Royal Bank of Canada upped their price objective on Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, Bank of America increased their price objective on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, January 6th.

Silgan Trading Down 1.1 %

SLGN opened at $52.44 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. The firm’s fifty day moving average price is $53.73 and its 200 day moving average price is $51.41. Silgan has a 12-month low of $41.14 and a 12-month high of $58.14. The stock has a market capitalization of $5.60 billion, a PE ratio of 19.00, a P/E/G ratio of 1.21 and a beta of 0.71.

Silgan (NYSE:SLGN) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a return on equity of 18.76% and a net margin of 5.11%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the business posted $1.16 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, research analysts expect that Silgan will post 3.6 EPS for the current fiscal year.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, December 2nd. Silgan’s dividend payout ratio is currently 27.54%.

Hedge Funds Weigh In On Silgan

A number of institutional investors and hedge funds have recently bought and sold shares of SLGN. FMR LLC lifted its stake in shares of Silgan by 87.7% in the 3rd quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock worth $329,619,000 after acquiring an additional 2,932,680 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in shares of Silgan in the second quarter valued at $19,666,000. Weiss Asset Management LP acquired a new position in shares of Silgan in the 3rd quarter worth approximately $11,422,000. Dimensional Fund Advisors LP increased its holdings in shares of Silgan by 7.4% in 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 in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Silgan by 202.3% during the 3rd quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company’s stock valued at $13,015,000 after acquiring an additional 165,900 shares during the last quarter. Institutional investors 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.