Silgan Holdings Inc. (NYSE:SLGN) Receives $57.00 Consensus Target Price from Brokerages

Silgan Holdings Inc. (NYSE:SLGN) has received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $57.00.

Several brokerages have commented on SLGN. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Wells Fargo & Company increased their price objective on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. StockNews.com raised shares of Silgan from a “hold” rating to a “buy” rating in a research note on Friday. Citigroup increased their price target on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird raised their price objective on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 1st.

Silgan Stock Performance

NYSE SLGN opened at $51.33 on Tuesday. The firm’s 50 day simple moving average is $49.65 and its 200 day simple moving average is $47.14. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 1.49 and a beta of 0.67. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. Silgan has a 1 year low of $38.11 and a 1 year high of $52.84.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the business posted $0.83 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. As a group, research analysts expect that Silgan will post 3.66 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.48%. Silgan’s payout ratio is 26.67%.

Insiders Place Their Bets

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares of the company’s stock, valued at $563,714.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Silgan

A number of institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in Silgan during the fourth quarter worth $41,921,000. Janus Henderson Group PLC raised its position in shares of Silgan by 95.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock worth $59,462,000 after acquiring an additional 598,472 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Silgan in the 2nd quarter valued at about $19,666,000. Boston Trust Walden Corp boosted its position in shares of Silgan by 20.6% during the 2nd quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock valued at $79,776,000 after purchasing an additional 322,511 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Silgan by 5.8% during the fourth quarter. Wellington Management Group LLP now owns 4,466,816 shares of the industrial products company’s stock worth $202,123,000 after purchasing an additional 246,813 shares during the period. 70.25% of the stock is owned by 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.