Silgan Holdings Inc. (NYSE:SLGN) Receives $53.00 Average Price Target from Analysts

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $52.88.

A number of equities research analysts recently issued reports on SLGN shares. Wells Fargo & Company dropped their target price on shares of Silgan from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Citigroup upgraded shares of Silgan from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Monday.

Silgan Trading Up 3.3 %

Shares of SLGN stock opened at $42.68 on Thursday. Silgan has a 52-week low of $38.11 and a 52-week high of $49.72. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 1.39 and a beta of 0.67. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.62 and a current ratio of 1.04. The firm has a fifty day moving average of $45.31 and a 200-day moving average of $45.29.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The business’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 EPS. On average, equities research analysts forecast that Silgan will post 3.66 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Monday, June 3rd. Silgan’s dividend payout ratio (DPR) is presently 26.67%.

Insider Activity

In other news, VP B Frederik Prinzen sold 4,093 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.84, for a total value of $195,809.12. Following the sale, the vice president now owns 4,520 shares of the company’s stock, valued at $216,236.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Silgan news, VP B Frederik Prinzen sold 4,093 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.84, for a total transaction of $195,809.12. Following the sale, the vice president now directly owns 4,520 shares of the company’s stock, valued at $216,236.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jay A. Martin sold 4,228 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $47.13, for a total transaction of $199,265.64. Following the sale, the senior vice president now directly owns 144,161 shares in the company, valued at $6,794,307.93. The disclosure for this sale can be found here. Insiders sold 59,651 shares of company stock worth $2,804,226 over the last quarter. 1.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Silgan

Several large investors have recently modified their holdings of the stock. Versant Capital Management Inc raised its position in shares of Silgan by 2,838.5% in the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 1,107 shares during the period. GAMMA Investing LLC grew its stake in Silgan by 109.9% during the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock worth $50,000 after buying an additional 613 shares in the last quarter. SG Capital Management LLC acquired a new stake in Silgan during the first quarter worth about $8,584,000. Verity Asset Management Inc. acquired a new stake in Silgan during the first quarter worth about $220,000. Finally, Cetera Investment Advisers bought a new position in shares of Silgan in the first quarter worth about $6,352,000. 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.