Silgan Holdings Inc. (NYSE:SLGN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $57.43.

Several analysts have weighed in on SLGN shares. Robert W. Baird upped their price objective on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Wells Fargo & Company upped their price objective on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Citigroup upped their price objective on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada increased their price target on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st.

Hedge Funds Weigh In On Silgan

Several large investors have recently bought and sold shares of SLGN. Blue Trust Inc. lifted its holdings in Silgan by 256.6% in the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after buying an additional 426 shares during the period. Versant Capital Management Inc lifted its holdings in 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 buying an additional 1,107 shares during the period. GAMMA Investing LLC lifted its holdings in Silgan by 109.9% in the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after buying an additional 613 shares during the period. Covestor Ltd lifted its holdings in Silgan by 69.7% in the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after buying an additional 462 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Silgan in the second quarter valued at approximately $70,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Silgan Stock Performance

NYSE SLGN opened at $53.10 on Wednesday. The stock has a market cap of $5.67 billion, a P/E ratio of 19.24, a PEG ratio of 1.38 and a beta of 0.67. The company’s 50-day simple moving average is $51.30 and its 200 day simple moving average is $48.17. Silgan has a twelve month low of $40.01 and a twelve month high of $53.72. The company has a quick ratio of 0.36, a current ratio of 0.52 and a debt-to-equity ratio of 1.31.

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

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.