Truist Financial Boosts Silgan (NYSE:SLGN) Price Target to $69.00

Silgan (NYSE:SLGN) had its price objective increased by Truist Financial from $63.00 to $69.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would indicate a potential upside of 35.27% from the company’s previous close.

A number of other equities analysts have also recently commented on SLGN. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada boosted their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.57.

Silgan Stock Down 0.1 %

SLGN stock opened at $51.01 on Monday. The stock has a fifty day moving average of $54.05 and a 200-day moving average of $50.65. Silgan has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.44 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.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a return on equity of 18.76% and a net margin of 5.11%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the business earned $1.16 EPS. Silgan’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, equities research analysts predict that Silgan will post 3.6 earnings per share for the current year.

Institutional Investors Weigh In On Silgan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLGN. Headlands Technologies LLC bought a new position in shares of Silgan during the 2nd quarter valued at about $70,000. Venturi Wealth Management LLC grew its stake in shares of Silgan by 220.4% during the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after buying an additional 963 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Silgan by 51.8% in the third quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock worth $93,000 after buying an additional 606 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Silgan during the 2nd quarter worth approximately $104,000. Finally, KBC Group NV boosted its holdings in Silgan by 27.7% during the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 494 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.