Silgan Holdings Inc. (NYSE:SLGN) Receives $53.13 Consensus Target Price from Brokerages

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been given a consensus rating of “Moderate Buy” by the seven ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $53.13.

Several research firms have commented on SLGN. JPMorgan Chase & Co. boosted their price target on shares of Silgan from $39.00 to $46.00 and gave the stock an “underweight” rating in a research note on Thursday, February 1st. Wells Fargo & Company increased their price objective on Silgan from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Citigroup raised their target price on Silgan from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Raymond James increased their price target on shares of Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, Truist Financial boosted their price objective on shares of Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th.

Insider Buying and Selling at Silgan

In other Silgan news, VP B Frederik Prinzen sold 4,684 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $43.89, for a total transaction of $205,580.76. Following the completion of the sale, the vice president now directly owns 8,613 shares of the company’s stock, valued at approximately $378,024.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in Silgan in the fourth quarter worth $30,000. Quent Capital LLC lifted its stake in shares of Silgan by 94.9% in the fourth quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 505 shares during the period. Fifth Third Bancorp boosted its holdings in Silgan by 92.4% during the third quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock worth $48,000 after buying an additional 538 shares in the last quarter. Headlands Technologies LLC acquired a new position in Silgan during the third quarter worth about $70,000. Finally, Blue Trust Inc. increased its holdings in Silgan by 4,440.4% in the fourth quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock valued at $91,000 after buying an additional 2,087 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Silgan Trading Down 0.0 %

Shares of SLGN stock opened at $47.00 on Friday. Silgan has a 1-year low of $38.11 and a 1-year high of $50.18. The firm has a market cap of $5.02 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68. The company has a 50-day moving average of $45.94 and a two-hundred day moving average of $43.98. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.02 and a quick ratio of 0.61.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Silgan had a net margin of 5.44% and a return on equity of 20.29%. On average, analysts predict that Silgan will post 3.67 EPS for the current year.

Silgan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.62%. This is a boost from Silgan’s previous quarterly dividend of $0.18. Silgan’s dividend payout ratio is currently 25.50%.

About Silgan

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.