Silgan (NYSE:SLGN) Given New $46.00 Price Target at Truist Financial

Key Points

• Truist Financial raised Silgan’s price target to $46 from $45 and maintained a Buy rating, implying approximately 14% upside from the stock’s $40.35 trading price.
• Silgan reported third-quarter adjusted earnings of $1.31 per share, beating the $1.25 consensus estimate, while revenue rose 1.5% year over year to $2.04 billion but missed expectations.
• Analyst sentiment remains favorable, with a consensus rating of Moderate Buy and an average price target of $50.50; institutional investors own roughly 70.25% of the company.

Silgan (NYSE:SLGN - Get Free Report) had its price objective hoisted by equities research analysts at Truist Financial from $45.00 to $46.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the industrial products company's stock. Truist Financial's target price would indicate a potential upside of 14.01% from the company's current price.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets began coverage on shares of Silgan in a report on Thursday, July 16th. They set an "outperform" rating and a $57.00 price objective for the company. Bank of America upped their price target on Silgan from $53.00 to $58.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $52.00 price target (down from $56.00) on shares of Silgan in a report on Monday, October 19th. UBS Group set a $38.00 price target on shares of Silgan and gave the company a "neutral" rating in a research report on Monday, October 5th. Finally, Weiss Ratings cut shares of Silgan from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Silgan presently has an average rating of "Moderate Buy" and a consensus price target of $50.50.

Silgan Trading Up 2.2%

Silgan stock traded up $0.86 during trading hours on Friday, hitting $40.35. The stock had a trading volume of 199,228 shares, compared to its average volume of 1,048,766. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 2.21 and a beta of 0.67. Silgan has a one year low of $33.70 and a one year high of $49.55. The business's 50 day simple moving average is $38.36 and its 200-day simple moving average is $41.39. The company has a quick ratio of 0.80, a current ratio of 1.27 and a debt-to-equity ratio of 1.54.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. Silgan had a return on equity of 16.74% and a net margin of 4.05%. The company had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $2.10 billion. During the same quarter in the prior year, the firm posted $1.22 earnings per share. The business's quarterly revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that Silgan will post 3.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SLGN. Buckland Partners Management Co LLC acquired a new position in Silgan in the 2nd quarter worth approximately $6,439,000. Bank of America Corp DE purchased a new position in Silgan during the second quarter valued at $101,368,000. Quantinno Capital Management LP increased its stake in Silgan by 15.1% during the 1st quarter. Quantinno Capital Management LP now owns 179,341 shares of the industrial products company's stock worth $6,958,000 after buying an additional 23,485 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Silgan in the 2nd quarter valued at $1,291,000. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Silgan in the second quarter valued at about $4,046,000. Hedge funds and other institutional investors own 70.25% of the company's stock.

Key Silgan News

Here are the key news stories impacting Silgan this week:

• Positive Sentiment: Silgan reported third-quarter adjusted earnings of $1.31 per share, exceeding analysts’ expectations of approximately $1.25–$1.26 and rising from $1.22 a year earlier. The earnings beat supports the positive stock reaction. Silgan Holdings Tops Q3 Earnings Estimates
• Positive Sentiment: The company raised the midpoint of its full-year earnings outlook, signaling confidence in operating performance and providing a supportive catalyst for SLGN. Silgan Announces Third Quarter Results and Raises Earnings Estimate
• Positive Sentiment: Truist increased its price target to $46 from $45 while maintaining a Buy rating, suggesting the analyst sees additional upside based on Silgan’s earnings performance and outlook. Truist Raises Silgan Price Target
• Neutral Sentiment: Third-quarter revenue increased 1.5% year over year to $2.04 billion, but it fell short of the roughly $2.10 billion consensus estimate. The mixed result indicates that earnings benefits did not fully translate into top-line growth. Silgan Third Quarter Earnings Results

Silgan Company Profile

Silgan Holdings Inc NYSE: SLGN is a manufacturer of rigid packaging products used by consumer goods companies. The company produces metal containers, plastic containers and specialty closures for food, beverage, personal care, household, healthcare, industrial and other products.

Silgan's metal packaging business supplies cans and containers for food, pet food, paint, chemicals, aerosols and other applications. Its plastic packaging operations manufacture bottles, tubs and other containers, while its closures business produces metal and plastic caps, lids and dispensing systems for a range of consumer and industrial products.

Founded in 1987, Silgan serves customers primarily across North America and Europe through a network of manufacturing facilities.

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