Silgan (NYSE:SLGN) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Silgan (NYSE:SLGN) from a hold rating to a buy rating in a report released on Friday morning.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Silgan from $51.00 to $55.00 and gave the company an outperform rating in a research note on Thursday, August 1st. Robert W. Baird raised their price target on shares of Silgan from $53.00 to $60.00 and gave the company an outperform rating in a research report on Thursday, August 1st. Wells Fargo & Company upped their price objective on Silgan from $54.00 to $58.00 and gave the company an overweight rating in a research report on Thursday, August 1st. Truist Financial reaffirmed a buy rating and set a $59.00 price target (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised Silgan from an underweight rating to a neutral rating and boosted their target price for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $57.00.

Silgan Price Performance

Shares of NYSE:SLGN opened at $50.48 on Friday. Silgan has a 52 week low of $38.11 and a 52 week high of $52.84. The stock has a market cap of $5.39 billion, a PE ratio of 17.71, a PEG ratio of 1.52 and a beta of 0.67. The company’s fifty day moving average is $47.85 and its 200 day moving average is $46.58. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the company earned $0.83 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Research analysts anticipate that Silgan will post 3.66 earnings per share for the current year.

Silgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Tuesday, September 3rd. Silgan’s payout ratio is 26.67%.

Insider Buying and Selling

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares in the company, valued at $563,714.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of Silgan by 256.6% in the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 426 shares during the period. Principal Securities Inc. bought a new stake in shares of Silgan during the fourth quarter valued at approximately $30,000. Versant Capital Management Inc boosted its position in shares of Silgan by 2,838.5% during the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 1,107 shares during the last quarter. GAMMA Investing LLC grew its stake in Silgan by 109.9% during the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 613 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Silgan by 69.7% in the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 462 shares during the last quarter. Hedge funds and other 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.