Silgan Holdings Inc. (NYSE:SLGN) Stock Has Consensus Price Target of $50.60

Shares of Silgan Holdings Inc. (NYSE:SLGN) have received an average rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $50.70.

SLGN has been the topic of several recent analyst reports. UBS Group set a $38.00 price objective on shares of Silgan and gave the company a “neutral” rating in a report on Monday, October 5th. Wells Fargo & Company reiterated an “overweight” rating and issued a $52.00 target price (down from $56.00) on shares of Silgan in a research note on Monday, October 19th. Weiss Ratings downgraded shares of Silgan from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, October 13th. Royal Bank Of Canada upped their price target on shares of Silgan from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. Finally, Bank of America raised their price target on shares of Silgan from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th.

Hedge Funds Weigh In On Silgan

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Silgan during the 2nd quarter worth approximately $369,406,000. Dimensional Fund Advisors LP increased its holdings in shares of Silgan by 11.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,893,768 shares of the industrial products company’s stock valued at $189,871,000 after purchasing an additional 505,813 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Silgan in the 2nd quarter valued at $101,368,000. Jupiter Topco LLC acquired a new position in shares of Silgan in the 2nd quarter valued at $62,526,000. Finally, Atlas FRM LLC acquired a new position in shares of Silgan in the 2nd quarter valued at $48,245,600. 70.25% of the stock is owned by institutional investors and hedge funds.

Silgan Stock Performance

Shares of SLGN opened at $41.74 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.54. The firm has a market cap of $4.41 billion, a PE ratio of 16.83, a P/E/G ratio of 2.49 and a beta of 0.64. Silgan has a 12 month low of $33.70 and a 12 month high of $49.55. The stock has a fifty day moving average price of $38.31 and a 200-day moving average price of $41.37.

Silgan (NYSE:SLGN) last announced its earnings results on Thursday, October 29th. The industrial products company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. Silgan had a return on equity of 16.73% and a net margin of 3.90%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the business earned $1.22 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts predict that Silgan will post 3.87 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.0%. Silgan’s payout ratio is 33.87%.

Silgan Company Profile

Silgan Holdings Inc (NYSE: SLGN) is a manufacturer of rigid packaging products used by consumer goods companies. The company produces metal containers, plastic containers and specialty closures for food, beverage, personal care, household, healthcare, industrial and other products.

Silgan’s metal packaging business supplies cans and containers for food, pet food, paint, chemicals, aerosols and other applications. Its plastic packaging operations manufacture bottles, tubs and other containers, while its closures business produces metal and plastic caps, lids and dispensing systems for a range of consumer and industrial products.

Founded in 1987, Silgan serves customers primarily across North America and Europe through a network of manufacturing facilities.