Loop Capital Raises Silgan (NYSE:SLGN) Price Target to $75.00

Silgan (NYSE:SLGN) had its price target lifted by Loop Capital from $70.00 to $75.00 in a research note released on Thursday,Benzinga reports. Loop Capital currently has a buy rating on the industrial products company’s stock.

A number of other research firms have also recently commented on SLGN. Bank of America increased their price target on shares of Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a report on Monday, January 6th. Robert W. Baird lifted their target price on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial reaffirmed a “buy” rating and set a $70.00 price target (up from $69.00) on shares of Silgan in a report on Thursday. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, Raymond James upped their target price on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Silgan has an average rating of “Moderate Buy” and an average target price of $64.22.

Silgan Stock Performance

Shares of SLGN opened at $56.08 on Thursday. The business’s 50 day moving average price is $53.67 and its 200-day moving average price is $51.80. The stock has a market cap of $5.99 billion, a P/E ratio of 21.74, a P/E/G ratio of 1.34 and a beta of 0.71. Silgan has a 52 week low of $41.14 and a 52 week 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.

Silgan (NYSE:SLGN) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that Silgan will post 4.09 earnings per share for the current fiscal year.

Silgan Announces Dividend

The firm also recently declared 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. This represents a $0.76 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Monday, December 2nd. Silgan’s payout ratio is currently 29.46%.

Hedge Funds Weigh In On Silgan

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nicola Wealth Management LTD. raised its position in Silgan by 24.4% in the third quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company’s stock worth $5,087,000 after acquiring an additional 19,000 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in shares of Silgan in the 3rd quarter worth $2,975,000. BNP Paribas Financial Markets raised its holdings in Silgan by 144.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock worth $2,884,000 after purchasing an additional 32,432 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Silgan by 1.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock valued at $137,047,000 after purchasing an additional 29,565 shares in the last quarter. Finally, Versor Investments LP increased its position in Silgan by 112.7% in the third quarter. Versor Investments LP now owns 10,208 shares of the industrial products company’s stock worth $536,000 after buying an additional 5,408 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

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.