Silgan Holdings Inc. (NASDAQ:SLGN) Given Average Recommendation of “Buy” by Brokerages

Shares of Silgan Holdings Inc. (NASDAQ:SLGNGet Rating) have earned a consensus recommendation of “Buy” from the eleven analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $50.70.

A number of equities analysts recently commented on the stock. Citigroup boosted their price objective on shares of Silgan from $45.00 to $50.00 in a research note on Friday, April 8th. StockNews.com initiated coverage on shares of Silgan in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Raymond James lifted their price target on shares of Silgan from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, January 27th. KeyCorp lifted their price target on shares of Silgan from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, January 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Silgan from $41.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday, January 27th.

NASDAQ:SLGN traded down $0.33 during trading hours on Tuesday, reaching $44.20. The company’s stock had a trading volume of 8,740 shares, compared to its average volume of 483,204. The company has a market capitalization of $4.88 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 2.40 and a beta of 0.78. Silgan has a 12 month low of $37.10 and a 12 month high of $46.98. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.99 and a current ratio of 1.52. The stock has a 50 day moving average price of $44.26 and a two-hundred day moving average price of $42.82.

Silgan (NASDAQ:SLGNGet Rating) last issued its quarterly earnings data on Tuesday, January 25th. The industrial products company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.36 billion. Silgan had a net margin of 6.33% and a return on equity of 26.67%. Silgan’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, analysts predict that Silgan will post 3.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Thursday, March 17th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 16th. This is a positive change from Silgan’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.45%. Silgan’s payout ratio is 19.81%.

In other Silgan news, Chairman Anthony J. Allott sold 4,431 shares of the company’s stock in a transaction on Thursday, February 10th. The shares were sold at an average price of $43.58, for a total value of $193,102.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Anthony J. Allott sold 70,000 shares of the company’s stock in a transaction on Tuesday, February 8th. The shares were sold at an average price of $44.05, for a total transaction of $3,083,500.00. The disclosure for this sale can be found here. Insiders have sold 98,941 shares of company stock worth $4,332,185 over the last three months. Corporate insiders own 24.38% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC boosted its holdings in Silgan by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 14,781 shares of the industrial products company’s stock valued at $633,000 after purchasing an additional 267 shares during the last quarter. Xponance Inc. raised its position in shares of Silgan by 2.9% in the third quarter. Xponance Inc. now owns 9,426 shares of the industrial products company’s stock worth $362,000 after acquiring an additional 268 shares during the period. JLB & Associates Inc. raised its position in shares of Silgan by 0.4% in the fourth quarter. JLB & Associates Inc. now owns 67,679 shares of the industrial products company’s stock worth $2,899,000 after acquiring an additional 293 shares during the period. State of Michigan Retirement System raised its position in shares of Silgan by 1.4% in the fourth quarter. State of Michigan Retirement System now owns 21,296 shares of the industrial products company’s stock worth $912,000 after acquiring an additional 300 shares during the period. Finally, Securian Asset Management Inc. raised its position in shares of Silgan by 4.5% in the third quarter. Securian Asset Management Inc. now owns 7,525 shares of the industrial products company’s stock worth $289,000 after acquiring an additional 322 shares during the period. 71.89% of the stock is currently owned by institutional investors.

About Silgan (Get Rating)

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products in North America, Europe, and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom 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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