Wells Fargo & Company Increases Silgan (NYSE:SLGN) Price Target to $63.00

Silgan (NYSE:SLGN) had its price target lifted by Wells Fargo & Company from $58.00 to $63.00 in a research report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Several other research analysts also recently commented on SLGN. Royal Bank of Canada raised their price objective on Silgan from $58.00 to $63.00 and gave the stock 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 report on Wednesday, October 9th. Bank of America increased their price objective on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Truist Financial lifted their target price on shares of Silgan from $63.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $64.22.

Silgan Trading Up 0.5 %

NYSE:SLGN opened at $56.08 on Thursday. The company has a 50 day simple moving average of $53.67 and a two-hundred day simple moving average of $51.80. The company has a market cap of $5.99 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 1.34 and a beta of 0.71. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. Silgan has a 12 month low of $41.14 and a 12 month high of $58.14.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.77%. Research analysts forecast that Silgan will post 4.09 earnings per share for the current year.

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.19 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.36%. Silgan’s payout ratio is 29.46%.

Hedge Funds Weigh In On Silgan

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in Silgan by 7.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company’s stock worth $290,000 after acquiring an additional 361 shares during the last quarter. Verdence Capital Advisors LLC increased its position in Silgan by 5.5% in the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock worth $390,000 after purchasing an additional 388 shares during the last quarter. AQR Capital Management LLC raised its stake in Silgan by 1.1% during the second quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock valued at $1,594,000 after purchasing an additional 421 shares in the last quarter. Captrust Financial Advisors lifted its position in Silgan by 5.7% during the third quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 456 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Silgan by 27.7% in the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after buying an additional 494 shares in the last quarter. 70.25% of the stock is 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.