Silgan (NYSE:SLGN) Shares Gap Down After Analyst Downgrade

Shares of Silgan Holdings Inc. (NYSE:SLGN) gapped down before the market opened on Monday after Citigroup lowered their price target on the stock from $54.00 to $49.00. The stock had previously closed at $34.87, but opened at $33.70. Citigroup currently has a buy rating on the stock. Silgan shares last traded at $34.8130, with a volume of 104,480 shares changing hands.

Several other equities research analysts have also recently issued reports on SLGN. Raymond James Financial reissued an “outperform” rating and set a $59.00 target price on shares of Silgan in a research note on Wednesday, July 15th. BMO Capital Markets started coverage on Silgan in a report on Thursday, July 16th. They set an “outperform” rating and a $57.00 price target for the company. Bank of America increased their price target on Silgan from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Royal Bank Of Canada upgraded shares of Silgan from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $51.00 to $58.00 in a report on Thursday, August 13th. Finally, Weiss Ratings raised shares of Silgan from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SLGN. Norges Bank acquired a new position in shares of Silgan in the fourth quarter valued at approximately $30,813,000. Buckland Partners Management Co LLC purchased a new stake in Silgan during the 2nd quarter worth approximately $6,439,000. Bank of America Corp DE acquired a new stake in Silgan during the 2nd quarter worth approximately $101,368,000. Quantinno Capital Management LP boosted its position in Silgan by 15.1% in the 1st quarter. Quantinno Capital Management LP now owns 179,341 shares of the industrial products company’s stock valued at $6,958,000 after buying an additional 23,485 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Silgan in the 2nd quarter valued at approximately $1,291,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Trading Up 0.5%

The company’s 50 day simple moving average is $39.92 and its 200 day simple moving average is $40.64. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 2.03 and a beta of 0.67. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.27 and a quick ratio of 0.80.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.62 billion. Silgan had a return on equity of 16.74% and a net margin of 4.05%.The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. Silgan has set its FY 2026 guidance at 3.730-3.930 EPS and its Q3 2026 guidance at 1.210-1.310 EPS. As a group, research analysts expect that Silgan Holdings Inc. will post 3.82 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 1st. Silgan’s dividend payout ratio (DPR) is presently 32.94%.

About Silgan

Silgan Holdings Inc (NYSE: SLGN) is a manufacturer of rigid packaging for consumer goods. The company produces metal containers, plastic containers, closures and dispensing systems used to package food, pet food, beverages, household products, personal-care items, chemicals, paints and other products.

Silgan’s business is organized around metal containers, closures and dispensing systems. Its products include steel cans, plastic containers, caps, lids, pumps, sprayers and other dispensing components.