Analysts Set Silgan Holdings Inc. (NYSE:SLGN) Price Target at $63.11

Shares of Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) have earned a consensus rating of "Buy" from the nine research firms that are currently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $63.11.

SLGN has been the subject of several research analyst reports. Truist Financial dropped their target price on shares of Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Raymond James Financial upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the stock from $65.00 to $60.00 in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upgraded shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective for the company in a report on Thursday, May 1st. Finally, Citigroup raised their target price on Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, May 8th.

Insider Transactions at Silgan

In related news, VP B Frederik Prinzen sold 2,378 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the completion of the transaction, the vice president now directly owns 1,380 shares in the company, valued at $74,589. The trade was a 63.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Lewis sold 10,000 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $55.92, for a total transaction of $559,200.00. Following the completion of the transaction, the executive vice president now owns 153,378 shares of the company's stock, valued at approximately $8,576,897.76. The trade was a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Silgan

A number of hedge funds have recently added to or reduced their stakes in SLGN. Voya Investment Management LLC raised its stake in shares of Silgan by 4.4% in the first quarter. Voya Investment Management LLC now owns 12,230 shares of the industrial products company's stock worth $625,000 after purchasing an additional 519 shares during the last quarter. Inspire Investing LLC raised its position in Silgan by 4.9% in the 1st quarter. Inspire Investing LLC now owns 8,076 shares of the industrial products company's stock worth $413,000 after buying an additional 377 shares during the last quarter. Strs Ohio purchased a new position in Silgan in the 1st quarter worth about $2,469,000. Jane Street Group LLC purchased a new position in Silgan in the 1st quarter worth about $9,892,000. Finally, Bayforest Capital Ltd raised its holdings in shares of Silgan by 354.0% during the first quarter. Bayforest Capital Ltd now owns 10,947 shares of the industrial products company's stock valued at $560,000 after purchasing an additional 8,536 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Trading Up 0.4%

Shares of Silgan stock traded up $0.22 during trading on Thursday, reaching $53.92. 662,173 shares of the stock were exchanged, compared to its average volume of 665,633. The company has a quick ratio of 0.67, a current ratio of 1.14 and a debt-to-equity ratio of 1.67. The stock's fifty day moving average is $53.42 and its 200 day moving average is $52.60. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.21 and a beta of 0.76. Silgan has a 1 year low of $41.14 and a 1 year high of $58.14.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. Silgan had a return on equity of 20.00% and a net margin of 4.82%. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter last year, the business posted $0.69 EPS. The business's revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts expect that Silgan will post 4.11 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Monday, June 2nd. Silgan's payout ratio is 29.74%.

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.