Brokerages Set Silgan Holdings Inc. (NYSE:SLGN) Target Price at $58.14

Shares of Silgan Holdings Inc. (NYSE:SLGN) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $58.14.

Several brokerages have recently issued reports on SLGN. Royal Bank of Canada lifted their price target on Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th.

Silgan Stock Down 1.6 %

Shares of NYSE SLGN opened at $51.73 on Thursday. Silgan has a 52 week low of $41.14 and a 52 week high of $58.14. The stock’s fifty day moving average is $54.00 and its 200 day moving average is $50.38. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. The stock has a market capitalization of $5.52 billion, a P/E ratio of 18.74, a PEG ratio of 1.44 and a beta of 0.69.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the company posted $1.16 EPS. Sell-side analysts forecast that Silgan will post 3.6 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.19 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.47%. Silgan’s dividend payout ratio is presently 27.54%.

Institutional Trading of Silgan

Several hedge funds and other institutional investors have recently made changes to their positions in SLGN. Oddo BHF Asset Management Sas acquired a new stake in Silgan in the third quarter valued at $2,975,000. Franklin Resources Inc. bought a new stake in shares of Silgan in the 3rd quarter valued at about $223,000. Sanctuary Advisors LLC increased its stake in shares of Silgan by 32.1% in the third quarter. Sanctuary Advisors LLC now owns 7,182 shares of the industrial products company’s stock valued at $406,000 after buying an additional 1,747 shares during the period. Hohimer Wealth Management LLC acquired a new position in shares of Silgan in the third quarter worth approximately $396,000. Finally, Coldstream Capital Management Inc. boosted its holdings in Silgan by 10.3% in the third quarter. Coldstream Capital Management Inc. now owns 7,797 shares of the industrial products company’s stock valued at $411,000 after acquiring an additional 728 shares during the last quarter. 70.25% of the stock is currently 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.