Silgan (NYSE:SLGN) Price Target Raised to $67.00 at Truist Financial

Silgan (NYSE:SLGN - Get Free Report) had its target price raised by analysts at Truist Financial from $62.00 to $67.00 in a research note issued on Friday, July 11th, Marketbeat reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Truist Financial's price objective suggests a potential upside of 41.59% from the company's previous close.

Several other analysts also recently weighed in on the stock. Bank of America restated a "neutral" rating and set a $59.00 price objective (up previously from $57.00) on shares of Silgan in a research report on Wednesday, July 9th. Citigroup boosted their price objective on shares of Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Raymond James Financial upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the stock from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price on the stock in a report on Thursday, May 1st. Two 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. According to MarketBeat, Silgan currently has an average rating of "Moderate Buy" and a consensus price target of $63.78.

Silgan Stock Down 15.2%

Shares of NYSE:SLGN opened at $47.32 on Friday. The company has a market capitalization of $5.06 billion, a PE ratio of 17.59, a P/E/G ratio of 1.30 and a beta of 0.75. The company has a current ratio of 1.14, a quick ratio of 0.67 and a debt-to-equity ratio of 1.67. Silgan has a twelve month low of $44.37 and a twelve month high of $58.14. The firm has a 50 day simple moving average of $54.80 and a 200-day simple moving average of $53.03.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. Silgan had a return on equity of 20.00% and a net margin of 4.82%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, equities analysts predict that Silgan will post 4.11 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Silgan

Several institutional investors have recently bought and sold shares of SLGN. Vaughan Nelson Investment Management L.P. acquired a new position in Silgan in the 2nd quarter valued at $61,303,000. Millennium Management LLC increased its stake in Silgan by 764.7% in the 4th quarter. Millennium Management LLC now owns 1,012,644 shares of the industrial products company's stock valued at $52,708,000 after buying an additional 895,528 shares during the period. FMR LLC increased its stake in Silgan by 12.2% in the 4th quarter. FMR LLC now owns 7,046,400 shares of the industrial products company's stock valued at $366,765,000 after buying an additional 767,944 shares during the period. Norges Bank acquired a new position in Silgan in the 4th quarter valued at $38,680,000. Finally, JPMorgan Chase & Co. increased its stake in Silgan by 12.8% in the 4th quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock valued at $301,670,000 after buying an additional 656,923 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.

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.