Analysts Set Silgan Holdings Inc. (NASDAQ:SLGN) Price Target at $29.67

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Shares of Silgan Holdings Inc. (NASDAQ:SLGN) have been given an average rating of “Hold” by the twelve research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $29.67.

A number of analysts have issued reports on the company. BidaskClub lowered Silgan from a “hold” rating to a “sell” rating in a research note on Tuesday, September 10th. ValuEngine lowered Silgan from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Citigroup raised their price target on Silgan from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $31.00 to $33.00 in a research note on Wednesday, July 17th.

Shares of NASDAQ:SLGN opened at $29.56 on Thursday. The stock’s 50-day moving average price is $30.00 and its two-hundred day moving average price is $29.86. The company has a current ratio of 0.98, a quick ratio of 0.49 and a debt-to-equity ratio of 1.96. Silgan has a 12-month low of $22.24 and a 12-month high of $31.69. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.78 and a beta of 0.79.

Silgan (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. Silgan had a return on equity of 26.45% and a net margin of 4.46%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the company earned $0.52 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, research analysts forecast that Silgan will post 2.2 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, August 30th. Silgan’s dividend payout ratio is currently 21.15%.

In other news, Director John W. Alden sold 2,000 shares of Silgan stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $29.71, for a total value of $59,420.00. Following the transaction, the director now directly owns 67,331 shares of the company’s stock, valued at approximately $2,000,404.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas James Snyder sold 10,444 shares of Silgan stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.02, for a total value of $323,972.88. The disclosure for this sale can be found here. Insiders own 30.32% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC lifted its stake in shares of Silgan by 2.0% in the 2nd quarter. LPL Financial LLC now owns 17,714 shares of the industrial products company’s stock valued at $542,000 after purchasing an additional 346 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Silgan by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 31,113 shares of the industrial products company’s stock valued at $952,000 after buying an additional 442 shares during the period. Assetmark Inc. raised its holdings in shares of Silgan by 10.0% during the 2nd quarter. Assetmark Inc. now owns 5,024 shares of the industrial products company’s stock valued at $154,000 after buying an additional 457 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of Silgan by 5.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,620 shares of the industrial products company’s stock valued at $325,000 after buying an additional 542 shares during the period. Finally, Mason Street Advisors LLC raised its holdings in shares of Silgan by 1.3% during the 1st quarter. Mason Street Advisors LLC now owns 41,106 shares of the industrial products company’s stock valued at $1,218,000 after buying an additional 547 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Silgan Company Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

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Analyst Recommendations for Silgan (NASDAQ:SLGN)

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