Silgan (NYSE:SLGN) Price Target Cut to $54.00 by Analysts at Wells Fargo & Company

Silgan (NYSE:SLGN) had its price objective trimmed by Wells Fargo & Company from $55.00 to $54.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other analysts have also commented on SLGN. Truist Financial boosted their price objective on Silgan from $52.00 to $56.00 and gave the stock a buy rating in a report on Thursday, January 4th. Citigroup upped their target price on shares of Silgan from $47.00 to $51.00 and gave the stock a neutral rating in a research note on Friday, February 2nd. Raymond James boosted their price target on shares of Silgan from $52.00 to $54.00 and gave the stock an outperform rating in a report on Thursday, February 1st. Royal Bank of Canada lifted their target price on shares of Silgan from $49.00 to $51.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. increased their price target on Silgan from $39.00 to $46.00 and gave the company an underweight rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $53.00.

Silgan Price Performance

Shares of NYSE:SLGN opened at $46.28 on Thursday. Silgan has a twelve month low of $38.11 and a twelve month high of $49.72. The stock’s 50 day moving average is $46.10 and its 200-day moving average is $44.19. The company has a quick ratio of 0.29, a current ratio of 0.49 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 2.53 and a beta of 0.69.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.37 billion. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The business’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 earnings per share. Sell-side analysts forecast that Silgan will post 3.66 EPS for the current fiscal year.

Silgan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.64%. This is an increase from Silgan’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, March 13th. Silgan’s dividend payout ratio is presently 26.67%.

Insiders Place Their Bets

In related news, VP B Frederik Prinzen sold 4,684 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $205,580.76. Following the sale, the vice president now owns 8,613 shares in the company, valued at $378,024.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Silgan

Several hedge funds have recently added to or reduced their stakes in the company. TFO Wealth Partners LLC raised its stake in shares of Silgan by 10,540.0% during the fourth quarter. TFO Wealth Partners LLC now owns 532 shares of the industrial products company’s stock worth $226,000 after acquiring an additional 527 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Silgan during the fourth quarter valued at about $30,000. Quent Capital LLC lifted its stake in shares of Silgan by 94.9% in the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 505 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Silgan by 92.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 538 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Silgan during the 3rd quarter worth approximately $70,000. 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.