Silgan (NYSE:SLGN) Price Target Raised to $61.00

Silgan (NYSE:SLGN) had its target price raised by Bank of America from $60.00 to $61.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

SLGN has been the subject of several other research reports. Truist Financial raised their price target on Silgan from $63.00 to $69.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank of Canada lifted their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.75.

Silgan Stock Performance

Silgan stock opened at $51.01 on Monday. Silgan has a 1-year low of $41.14 and a 1-year high of $58.14. The company’s 50-day moving average is $54.02 and its 200 day moving average is $50.74. The firm has a market capitalization of $5.45 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 1.44 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75.

Silgan (NYSE:SLGN) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 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 company 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 company posted $1.16 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Research analysts forecast that Silgan will post 3.6 EPS for the current year.

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.49%. Silgan’s dividend payout ratio (DPR) is presently 27.54%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. raised its position in shares of Silgan by 0.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company’s stock worth $1,696,000 after acquiring an additional 218 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Silgan by 2.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company’s stock worth $453,000 after buying an additional 267 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Silgan by 7.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company’s stock valued at $290,000 after buying an additional 361 shares in the last quarter. Verdence Capital Advisors LLC grew its position in shares of Silgan by 5.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock valued at $390,000 after buying an additional 388 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Silgan by 1.1% in the 2nd quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock valued at $1,594,000 after buying an additional 421 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

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.