Silgan Holdings Inc. (NYSE:SLGN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Silgan Holdings Inc. (NYSE:SLGN) have received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $57.00.

A number of analysts have recently commented on SLGN shares. Robert W. Baird boosted their price objective on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Royal Bank of Canada increased their price objective on shares of Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. StockNews.com upgraded Silgan from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Citigroup upped their price objective on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st.

Insider Transactions at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the sale, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Silgan

Large investors have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in shares of Silgan by 256.6% during the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 426 shares during the period. Principal Securities Inc. bought a new position in Silgan during the 4th quarter worth $30,000. Versant Capital Management Inc lifted its holdings in shares of Silgan by 2,838.5% during the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after buying an additional 1,107 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Silgan by 109.9% in the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 613 shares during the period. Finally, Covestor Ltd grew its stake in shares of Silgan by 69.7% in the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 462 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

Silgan Trading Down 0.1 %

SLGN opened at $51.33 on Tuesday. The stock has a market capitalization of $5.48 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.49 and a beta of 0.67. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. Silgan has a 12 month low of $38.11 and a 12 month high of $52.84. The firm’s fifty day simple moving average is $49.65 and its 200 day simple moving average is $47.14.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company posted $0.83 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, research analysts anticipate that Silgan will post 3.66 EPS for the current fiscal year.

Silgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.48%. Silgan’s payout ratio is 26.67%.

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.