Silgan Holdings Inc. (NYSE:SLGN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Silgan Holdings Inc. (NYSE:SLGN) has earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $64.22.

Several brokerages recently issued reports on SLGN. Royal Bank of Canada upped 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. Truist Financial restated a “buy” rating and set a $70.00 target price (up from $69.00) on shares of Silgan in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their target price on shares of Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Wells Fargo & Company upped their target price on shares of Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Robert W. Baird upped their target price on shares of Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th.

Institutional Trading of Silgan

Institutional investors and hedge funds have recently modified their holdings of the stock. Nicola Wealth Management LTD. increased its stake in shares of Silgan by 24.4% in the 3rd quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company’s stock valued at $5,087,000 after acquiring an additional 19,000 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Silgan in the 3rd quarter valued at about $2,975,000. BNP Paribas Financial Markets increased its stake 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 during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of 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 valued at $137,047,000 after acquiring an additional 29,565 shares during the last quarter. Finally, Versor Investments LP increased its stake 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. 70.25% of the stock is owned by institutional investors.

Silgan Stock Up 1.7 %

Shares of NYSE SLGN opened at $53.23 on Friday. The firm’s 50-day simple moving average is $53.05 and its 200 day simple moving average is $52.35. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 1.24 and a beta of 0.71. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. Silgan has a 12-month low of $41.14 and a 12-month high of $58.14.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts expect that Silgan will post 4.11 earnings per share for the current fiscal year.

About Silgan

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.