Silgan (NYSE:SLGN) Given New $65.00 Price Target at Raymond James

Silgan (NYSE:SLGN) had its price target raised by Raymond James from $62.00 to $65.00 in a report published on Thursday morning,Benzinga reports. Raymond James currently has an outperform rating on the industrial products company’s stock.

Several other analysts have also commented on the stock. Bank of America increased their target price on shares of Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, January 6th. 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 report on Thursday, December 19th. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Truist Financial raised their price target on shares of Silgan from $63.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Silgan currently has a consensus rating of “Moderate Buy” and an average price target of $64.22.

Silgan Stock Up 0.5 %

Silgan stock opened at $56.08 on Thursday. The company’s 50-day moving average price is $53.67 and its two-hundred day moving average price is $51.80. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.34 and a beta of 0.71. Silgan has a 52 week low of $41.14 and a 52 week high of $58.14. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 19.77% and a net margin of 4.72%. On average, analysts expect that Silgan will post 4.09 EPS for the current fiscal year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.36%. Silgan’s dividend payout ratio is currently 29.46%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC raised its position in shares of Silgan by 37.8% in the second quarter. Squarepoint Ops LLC now owns 45,109 shares of the industrial products company’s stock valued at $1,909,000 after purchasing an additional 12,367 shares during the period. AQR Capital Management LLC increased its stake in shares of Silgan by 1.1% in the second quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock worth $1,594,000 after purchasing an additional 421 shares during the period. Millennium Management LLC boosted its stake in Silgan by 62.5% during the 2nd quarter. Millennium Management LLC now owns 322,482 shares of the industrial products company’s stock valued at $13,651,000 after purchasing an additional 124,020 shares during the period. Algert Global LLC acquired a new stake in Silgan in the 2nd quarter valued at approximately $363,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Silgan by 13,482.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,124 shares of the industrial products company’s stock worth $132,000 after buying an additional 3,101 shares during the last quarter. 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.