Silgan Holdings Inc. (NYSE:SLGN) Receives Average Recommendation of "Buy" from Analysts

Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) has received a consensus recommendation of "Buy" from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $63.44.

A number of equities research analysts recently weighed in on the stock. Bank of America reiterated a "neutral" rating and set a $59.00 price objective (up previously from $57.00) on shares of Silgan in a report on Wednesday, July 9th. Citigroup lifted their price objective on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Raymond James Financial upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and decreased their price objective for the company from $65.00 to $60.00 in a report on Tuesday, April 22nd. Truist Financial lifted their price objective on shares of Silgan from $62.00 to $67.00 and gave the company a "buy" rating in a report on Friday. Finally, JPMorgan Chase & Co. upgraded shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target for the company in a report on Thursday, May 1st.

Silgan Price Performance

Silgan stock opened at $54.96 on Monday. The firm has a 50-day moving average price of $54.79 and a 200-day moving average price of $52.75. The firm has a market capitalization of $5.88 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 1.27 and a beta of 0.75. The company has a current ratio of 1.14, a quick ratio of 0.67 and a debt-to-equity ratio of 1.67. Silgan has a 12-month low of $44.17 and a 12-month high of $58.14.

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

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Monday, June 2nd. Silgan's payout ratio is currently 29.74%.

Insider Buying and Selling

In other news, VP B Frederik Prinzen sold 2,378 shares of Silgan 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 transaction, the vice president owned 1,380 shares of the company's stock, valued at $74,589. The trade was a 63.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert B. Lewis sold 10,000 shares of Silgan 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 directly owned 153,378 shares in the company, valued at approximately $8,576,897.76. The trade was a 6.12% decrease in their position. The disclosure for this sale can be found here. 1.13% of the stock is owned by insiders.

Institutional Trading of Silgan

Several large investors have recently bought and sold shares of the stock. CX Institutional grew its position in Silgan by 26.2% during the 2nd quarter. CX Institutional now owns 1,044 shares of the industrial products company's stock worth $57,000 after purchasing an additional 217 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Silgan by 40.9% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 48,900 shares of the industrial products company's stock worth $2,649,000 after purchasing an additional 14,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Silgan by 21.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,400 shares of the industrial products company's stock worth $476,000 after purchasing an additional 1,497 shares during the last quarter. RDA Financial Network grew its position in Silgan by 71.9% during the 2nd quarter. RDA Financial Network now owns 8,124 shares of the industrial products company's stock worth $440,000 after purchasing an additional 3,399 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its position in Silgan by 7.2% during the 2nd quarter. Central Pacific Bank Trust Division now owns 4,030 shares of the industrial products company's stock worth $218,000 after purchasing an additional 270 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.

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