Silgan (NYSE:SLGN) Price Target Increased to $55.00 by Analysts at Wells Fargo & Company

Silgan (NYSE:SLGN - Get Free Report) had its target price increased by equities research analysts at Wells Fargo & Company from $52.00 to $55.00 in a report released on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the industrial products company's stock. Wells Fargo & Company's price objective would indicate a potential upside of 12.87% from the stock's current price.

A number of other brokerages also recently issued reports on SLGN. Royal Bank of Canada lifted their price target on Silgan from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Thursday, February 1st. Raymond James upped their price target on Silgan from $52.00 to $54.00 and gave the company an "outperform" rating in a report on Thursday, February 1st. Citigroup increased their price target on shares of Silgan from $47.00 to $51.00 and gave the company a "neutral" rating in a research note on Friday, February 2nd. Truist Financial boosted their price objective on shares of Silgan from $52.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, January 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Silgan from $39.00 to $46.00 and gave the company an "underweight" rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $53.13.

Silgan Stock Down 1.1 %

NYSE SLGN traded down $0.55 during trading hours on Thursday, hitting $48.73. 623,617 shares of the company were exchanged, compared to its average volume of 585,543. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 1.35. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 2.63 and a beta of 0.68. The company has a 50 day moving average of $45.38 and a two-hundred day moving average of $43.63. Silgan has a 52-week low of $38.11 and a 52-week high of $54.92.

Silgan (NYSE:SLGN - Get Free Report) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. Silgan had a net margin of 5.44% and a return on equity of 20.29%. The firm had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.39 billion. Equities research analysts anticipate that Silgan will post 3.67 earnings per share for the current year.

Insider Transactions at Silgan

In other news, VP B Frederik Prinzen sold 4,684 shares of Silgan stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $43.89, for a total value of $205,580.76. Following the sale, the vice president now owns 8,613 shares of the company's stock, valued at $378,024.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 13.08% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Principal Securities Inc. purchased a new position in shares of Silgan in the 4th quarter valued at about $30,000. Eagle Bay Advisors LLC lifted its position in shares of Silgan by 151.1% during the 2nd quarter. Eagle Bay Advisors LLC now owns 836 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 503 shares during the period. Quent Capital LLC boosted its stake in shares of Silgan by 94.9% during the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company's stock worth $47,000 after acquiring an additional 505 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Silgan by 92.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company's stock worth $48,000 after acquiring an additional 538 shares during the period. Finally, Headlands Technologies LLC purchased a new position in Silgan in the 3rd quarter valued at approximately $70,000. 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.