Silgan (NYSE:SLGN) Price Target Raised to $64.00 at Raymond James Financial

Silgan (NYSE:SLGN - Get Free Report) had its price objective boosted by investment analysts at Raymond James Financial from $60.00 to $64.00 in a research report issued on Tuesday, July 15th, Marketbeat Ratings reports. The firm currently has a "strong-buy" rating on the industrial products company's stock. Raymond James Financial's price objective would indicate a potential upside of 39.40% from the stock's previous close.

Other analysts have also recently issued reports about the company. Bank of America reiterated a "neutral" rating and issued a $59.00 price target (up from $57.00) on shares of Silgan in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target on the stock in a research report on Thursday, May 1st. Truist Financial upped their price target on Silgan from $62.00 to $67.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Citigroup upped their price target on Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Silgan presently has an average rating of "Moderate Buy" and an average price target of $63.78.

Silgan Stock Down 2.9%

Shares of NYSE SLGN traded down $1.39 during trading hours on Tuesday, hitting $45.91. The stock had a trading volume of 213,186 shares, compared to its average volume of 745,714. The firm's 50-day moving average price is $54.80 and its two-hundred day moving average price is $53.03. Silgan has a 52 week low of $44.37 and a 52 week high of $58.14. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.67 and a current ratio of 1.14. The company has a market capitalization of $4.91 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.30 and a beta of 0.75.

Silgan (NYSE:SLGN - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.02). Silgan had a return on equity of 20.00% and a net margin of 4.82%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm posted $0.88 earnings per share. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts anticipate that Silgan will post 4.11 EPS for the current fiscal year.

Insider Activity

In related news, EVP Robert B. Lewis sold 10,000 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the transaction, the executive vice president owned 153,378 shares in the company, valued at approximately $8,576,897.76. This represents a 6.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP B Frederik Prinzen sold 2,378 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total transaction of $128,530.90. Following the transaction, the vice president owned 1,380 shares in the company, valued at approximately $74,589. The trade was a 63.28% decrease in their position. The disclosure for this sale can be found here. 1.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Silgan during the 1st quarter worth approximately $51,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Silgan by 13.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,903 shares of the industrial products company's stock worth $353,000 after acquiring an additional 815 shares during the period. M&T Bank Corp lifted its holdings in shares of Silgan by 6.9% during the 1st quarter. M&T Bank Corp now owns 18,135 shares of the industrial products company's stock worth $927,000 after acquiring an additional 1,165 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Silgan by 1.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 49,933 shares of the industrial products company's stock worth $2,553,000 after acquiring an additional 695 shares during the period. Finally, CX Institutional bought a new position in Silgan in the 1st quarter valued at approximately $42,000. Institutional investors and hedge funds own 70.25% of the company's stock.

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.