Truist Financial Forecasts Strong Price Appreciation for Silgan (NYSE:SLGN) Stock

Silgan (NYSE:SLGN) had its price target raised by Truist Financial from $63.00 to $69.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

SLGN has been the topic of several other research reports. Royal Bank of Canada increased their target price on shares of Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.75.

Silgan Trading Down 0.4 %

Shares of Silgan stock opened at $51.01 on Monday. Silgan has a twelve month low of $41.14 and a twelve month high of $58.14. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $54.02 and a 200-day moving average price of $50.74. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.44 and a beta of 0.71.

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

Silgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.19 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.49%. Silgan’s payout ratio is 27.54%.

Institutional Investors Weigh In On Silgan

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Natixis Advisors LLC increased its stake in shares of Silgan by 3.6% during the second quarter. Natixis Advisors LLC now owns 44,999 shares of the industrial products company’s stock valued at $1,905,000 after buying an additional 1,570 shares during the period. Arizona State Retirement System raised its holdings in shares of Silgan by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 23,853 shares of the industrial products company’s stock valued at $1,010,000 after purchasing an additional 438 shares in the last quarter. LSV Asset Management lifted its position in shares of Silgan by 5.3% in the 2nd quarter. LSV Asset Management now owns 352,200 shares of the industrial products company’s stock worth $14,909,000 after purchasing an additional 17,600 shares during the period. Oak Thistle LLC bought a new position in shares of Silgan during the second quarter valued at approximately $573,000. Finally, Quest Partners LLC increased its holdings in Silgan by 156.1% during the second quarter. Quest Partners LLC now owns 51,863 shares of the industrial products company’s stock valued at $2,195,000 after buying an additional 31,612 shares during the period. 70.25% of the stock is owned by institutional investors.

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.