Silgan Holdings Inc. (NASDAQ:SLGN) received an average “Buy” recommendation from the eleven research firms that currently cover the company, MarketBeat reports. One research analyst rated the stock with a sell recommendation, two gave the company a hold recommendation and seven gave the company a buy recommendation. The 12-month average price target among brokerages that have covered the stock over the past year is $49.36.
Several analysts have recently released reports on SLGN shares. Raymond James began coverage of Silgan shares in a research note on Tuesday, November 23. They set an “outperform” rating and a price target of $47.00 for the company. BMO Capital Markets raised its target price on Silgan’s stock from $50.00 to $52.00 and gave the company an “outperform” rating in a Wednesday, September 22 report. JPMorgan Chase & Co. downgraded shares of Silgan from a “neutral” rating to an “underweight” rating and lowered its target price for the company from $44.00 to $40.00 in a Friday report October 1st. Royal Bank of Canada raised its target price on Silgan’s shares from $49.00 to $50.00 and gave the company an “outperform” rating in a Thursday, Oct. 28 report. Finally, Citigroup raised its price target on Silgan shares from $45.00 to $47.00 in a Tuesday, January 4, report.
Separately, CFO Robert B. Lewis sold 20,000 shares in a trade on Monday, November 22. The shares were sold at an average price of $42.13, for a total transaction of $842,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Additionally, Chairman Anthony J. Allott sold 60,000 shares in a trade on Monday, November 15. The stock was sold at an average price of $42.47, for a total transaction of $2,548,200.00. The disclosure of this sale can be found here. Insiders of the company own 24.38% of the shares of the company.
A number of large investors have recently changed their holdings in SLGN. Exchange Traded Concepts LLC increased its stake in Silgan shares by 1.8% in Q4. Exchange Traded Concepts LLC now owns 14,781 shares of the industrial products company worth $633,000 after acquiring 267 additional shares during the period. Xponance Inc. increased its stake in Silgan shares by 2.9% in the third quarter. Xponance Inc. now owns 9,426 shares of the industrial products company worth $362,000 after acquiring 268 additional shares during the period. Securian Asset Management Inc. increased its stake in Silgan shares by 4.5% in Q3. Securian Asset Management Inc. now owns 7,525 shares of the industrial products company worth $289,000 after acquiring 322 additional shares during the period. Susquehanna Fundamental Investments LLC increased its stake in Silgan shares by 0.8% in Q2. Susquehanna Fundamental Investments LLC now owns 58,902 shares of the industrial products company worth $2,444,000 after acquiring an additional 450 shares during the period. Finally, AGF Investments LLC increased its stake in Silgan shares by 3.6% in the third quarter. AGF Investments LLC now owns 14,724 shares of the industrial products company worth $565,000 after acquiring an additional 511 shares during the period. Hedge funds and other institutional investors own 67.95% of the company’s shares.
SLGN lost $0.10 on Friday, hitting $42.98. The stock had a trading volume of 174,286 shares, compared to an average volume of 281,950. Silgan has a 12-month low of $35.61 and a 12-month high of $44.55. The company has a current ratio of 1.07, a quick ratio of 0.70 and a debt ratio of 2.19. The company’s 50-day moving average price is $42.17 and its two-hundred-day moving average price is $41.16. The company has a market capitalization of $4.75 billion, a P/E ratio of 14.28, a price-to-earnings growth ratio of 2.30 and a beta of 0.81.
Silgan Inc (NASDAQ:SLGN) last reported results on Wednesday, October 27. The industrial products company reported EPS of $1.02 for the quarter, missing analyst consensus estimates of $1.04 per ($0.02). The company posted revenue of $1.65 billion for the quarter, versus $1.59 billion for analysts. Silgan had a return on equity of 26.60% and a net margin of 6.12%. The company’s revenue for the quarter increased 10.9% year over year. During the same period of the previous year, the company achieved EPS of $1.04. As a group, analysts predict that Silgan will post earnings per share of 3.35 for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15. Investors of record on Wednesday, December 1 received a dividend of $0.14. This represents a dividend of $0.56 on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Tuesday, November 30. Silgan’s dividend payout ratio (DPR) is 18.60%.
Silgan Holdings, Inc. is engaged in the manufacture and sale of rigid packaging for consumer products. It operates through the following business segments: Metal Containers, Closures and Plastic Containers. The Metal Containers segment includes steel and aluminum containers for food and feed, as well as general line products.
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