Silgan (NYSE:SLGN) Price Target Raised to $65.00

Silgan (NYSE:SLGN) had its target price hoisted by Royal Bank of Canada from $63.00 to $65.00 in a research note issued to investors on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Truist Financial restated a “buy” rating and issued a $70.00 price target (up from $69.00) on shares of Silgan in a research note on Thursday. Robert W. Baird boosted their target price on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Raymond James increased their price objective on Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.22.

Silgan Stock Performance

NYSE SLGN opened at $55.10 on Thursday. Silgan has a 1 year low of $41.14 and a 1 year high of $58.14. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 21.36, a P/E/G 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. The firm’s 50 day simple moving average is $53.64 and its 200 day simple moving average is $51.92.

Silgan (NYSE:SLGN) last issued its quarterly 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 return on equity of 19.77% and a net margin of 4.72%. As a group, research analysts expect that Silgan will post 4.09 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. Stockholders of record on Monday, December 2nd were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.38%. Silgan’s dividend payout ratio is presently 29.46%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust bought a new stake in shares of Silgan during the fourth quarter valued at approximately $59,000. Venturi Wealth Management LLC increased its stake in Silgan by 220.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 963 shares in the last quarter. GAMMA Investing LLC raised its holdings in Silgan by 51.8% during the third quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock worth $93,000 after buying an additional 606 shares during the last quarter. KBC Group NV lifted its stake in shares of Silgan by 27.7% in the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock valued at $120,000 after buying an additional 494 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Silgan during the third quarter valued at about $154,000. 70.25% of the stock is owned by institutional investors and hedge funds.

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.