Silgan (NYSE:SLGN) Price Target Raised to $65.00 at Royal Bank of Canada

Silgan (NYSE:SLGNFree Report) had its target price increased by Royal Bank of Canada from $63.00 to $65.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

SLGN has been the topic of several other research reports. Wells Fargo & Company increased their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday. Robert W. Baird increased their target price on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday. Truist Financial reissued a “buy” rating and issued a $70.00 price target (up previously from $69.00) on shares of Silgan in a research note on Thursday. Bank of America boosted their price objective on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Raymond James increased their target price on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Silgan presently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

View Our Latest Report on Silgan

Silgan Price Performance

Shares of NYSE SLGN opened at $56.08 on Thursday. Silgan has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. The company has a market cap of $5.99 billion, a PE ratio of 21.74, a P/E/G ratio of 1.34 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. The business has a 50-day simple moving average of $53.67 and a two-hundred day simple moving average of $51.80.

Silgan (NYSE:SLGNGet Free Report) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.77%. As a group, equities analysts expect that Silgan will post 4.09 EPS for the current fiscal year.

Silgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Monday, December 2nd. Silgan’s payout ratio is 29.46%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Venturi Wealth Management LLC raised its stake in shares of Silgan by 220.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 963 shares during the period. GAMMA Investing LLC increased its holdings in Silgan by 51.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock valued at $93,000 after purchasing an additional 606 shares during the last quarter. KBC Group NV raised its position in Silgan by 27.7% in the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 494 shares during the period. Point72 Asset Management L.P. acquired a new position in Silgan during the third quarter worth $154,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Silgan by 13,482.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,124 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 3,101 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

About Silgan

(Get Free Report)

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.

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Analyst Recommendations for Silgan (NYSE:SLGN)

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