Silgan Holdings Inc. (NYSE:SLGN) Receives $64.22 Average PT from Brokerages

Shares of Silgan Holdings Inc. (NYSE:SLGN) have received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $64.22.

Several brokerages have weighed in on SLGN. JPMorgan Chase & Co. lifted their target price on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Raymond James lifted their price objective on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Bank of America increased their target price on shares of Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada boosted their price target on shares of Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Truist Financial reiterated a “buy” rating and issued a $70.00 price objective (up from $69.00) on shares of Silgan in a report on Thursday, January 30th.

Insider Activity at Silgan

In related news, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the transaction, the executive vice president now directly owns 152,133 shares in the company, valued at $8,096,518.26. The trade was a 11.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Silgan

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nicola Wealth Management LTD. lifted its stake in Silgan by 24.4% during the third quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company’s stock valued at $5,087,000 after buying an additional 19,000 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Silgan during the third quarter valued at approximately $2,975,000. BNP Paribas Financial Markets lifted its position in shares of Silgan by 144.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock valued at $2,884,000 after acquiring an additional 32,432 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Silgan by 1.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock worth $137,047,000 after purchasing an additional 29,565 shares during the period. Finally, Versor Investments LP grew its position in Silgan by 112.7% during the 3rd quarter. Versor Investments LP now owns 10,208 shares of the industrial products company’s stock worth $536,000 after purchasing an additional 5,408 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Stock Up 1.3 %

Silgan stock opened at $55.47 on Friday. The firm has a market capitalization of $5.92 billion, a P/E ratio of 21.50, a P/E/G ratio of 1.24 and a beta of 0.71. The company has a 50-day simple moving average of $52.97 and a 200-day simple moving average of $52.49. Silgan has a one year low of $41.14 and a one year high of $58.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. As a group, equities analysts expect that Silgan will post 4.11 earnings per share for the current year.

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.