Brokerages Set Silgan Holdings Inc. (NYSE:SLGN) Price Target at $62.44

Key Points

• Silgan Holdings Inc. has received an average rating of "Buy" from analysts, with a twelve-month price target set at $62.44.
• The company reported a quarterly EPS of $1.01, falling short of the consensus estimate by $0.02, while revenue increased by 11.4% compared to the same quarter last year.
• Silgan will pay a quarterly dividend of $0.20 on September 16th, providing an annualized yield of 1.7%.

Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) has received a consensus rating of "Buy" from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $62.4444.

SLGN has been the topic of several recent analyst reports. Wells Fargo & Company increased their price target on shares of Silgan from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Citigroup increased their price target on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Royal Bank Of Canada dropped their price target on shares of Silgan from $64.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target on the stock in a research note on Thursday, May 1st. Finally, Truist Financial increased their price objective on Silgan from $62.00 to $67.00 and gave the company a "buy" rating in a report on Friday, July 11th.

Insider Buying and Selling at Silgan

In related news, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction 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 sale, the executive vice president directly owned 153,378 shares of the company's stock, valued at $8,576,897.76. This trade represents a 6.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Silgan

Several hedge funds have recently modified their holdings of SLGN. Neo Ivy Capital Management acquired a new stake in Silgan in the second quarter valued at $203,000. Swiss National Bank increased its position in shares of Silgan by 4.9% in the second quarter. Swiss National Bank now owns 173,700 shares of the industrial products company's stock valued at $9,411,000 after buying an additional 8,100 shares in the last quarter. MainStreet Investment Advisors LLC increased its position in shares of Silgan by 3.2% in the second quarter. MainStreet Investment Advisors LLC now owns 14,704 shares of the industrial products company's stock valued at $797,000 after buying an additional 460 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of Silgan in the second quarter valued at $414,000. Finally, Creative Planning increased its position in shares of Silgan by 13.5% in the second quarter. Creative Planning now owns 4,500 shares of the industrial products company's stock valued at $244,000 after buying an additional 536 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Silgan Stock Up 0.5%

NYSE:SLGN traded up $0.25 during mid-day trading on Friday, hitting $46.52. The stock had a trading volume of 107,472 shares, compared to its average volume of 790,258. The stock has a 50-day simple moving average of $53.43 and a two-hundred day simple moving average of $52.70. The company has a market capitalization of $4.98 billion, a PE ratio of 16.53, a PEG ratio of 1.16 and a beta of 0.69. Silgan has a twelve month low of $44.37 and a twelve month high of $58.14. The company has a current ratio of 0.96, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40.

Silgan (NYSE:SLGN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.02). The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Silgan had a net margin of 4.90% and a return on equity of 19.98%. The firm's revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business earned $0.88 EPS. On average, equities research analysts anticipate that Silgan will post 4.11 EPS for the current year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. Silgan's dividend payout ratio (DPR) is currently 28.47%.

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.