Silgan Holdings Inc. (NYSE:SLGN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Silgan Holdings Inc. (NYSE:SLGN) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $57.00.

A number of brokerages have commented on SLGN. Citigroup upped their price target on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Truist Financial reaffirmed a “buy” rating and set a $59.00 target price (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Royal Bank of Canada boosted their target price on Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $46.00 to $53.00 in a research note on Thursday, August 1st.

Insider Transactions at Silgan

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the sale, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SLGN. Blue Trust Inc. lifted its holdings in shares of Silgan by 256.6% during the 2nd 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. 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 acquiring an additional 462 shares during the period. Versant Capital Management Inc boosted its position 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 worth $49,000 after purchasing an additional 1,107 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Silgan by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 613 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Silgan during the 2nd quarter valued at about $70,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Silgan Stock Up 1.4 %

Shares of NYSE SLGN opened at $52.45 on Friday. The stock’s fifty day moving average is $50.97 and its 200 day moving average is $47.89. The stock has a market capitalization of $5.60 billion, a P/E ratio of 18.40, a PEG ratio of 1.51 and a beta of 0.67. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06. Silgan has a 52 week low of $38.11 and a 52 week 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. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.83 earnings per share. Sell-side analysts forecast that Silgan will post 3.66 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders 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 annualized dividend and a yield of 1.45%. Silgan’s dividend payout ratio (DPR) is presently 26.67%.

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.