Silgan (NYSE:SLGN) Stock Price Expected to Rise, Truist Financial Analyst Says

Silgan (NYSE:SLGN - Get Free Report) had its price objective raised by research analysts at Truist Financial from $62.00 to $67.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Truist Financial's target price indicates a potential upside of 21.07% from the stock's current price.

Several other brokerages have also recently commented on SLGN. Bank of America reiterated a "neutral" rating and issued a $59.00 price objective (up previously from $57.00) on shares of Silgan in a research note on Wednesday. Raymond James Financial upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and lowered their price target for the stock from $65.00 to $60.00 in a report on Tuesday, April 22nd. JPMorgan Chase & Co. raised Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective on the stock in a research note on Thursday, May 1st. Finally, Citigroup boosted their target price 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. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $63.44.

Silgan Trading Down 0.3%

Shares of Silgan stock opened at $55.34 on Friday. Silgan has a 1 year low of $42.56 and a 1 year 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 $5.92 billion, a P/E ratio of 20.57, a PEG ratio of 1.24 and a beta of 0.75. The company's fifty day moving average is $54.79 and its two-hundred day moving average is $52.74.

Silgan (NYSE:SLGN - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.78 by $0.04. Silgan had a net margin of 4.82% and a return on equity of 20.00%. The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter last year, the business earned $0.69 EPS. The business's revenue was up 11.4% on a year-over-year basis. Analysts forecast that Silgan will post 4.11 earnings per share for the current year.

Insider Transactions at Silgan

In other news, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $55.92, for a total value 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 trade represents a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP B Frederik Prinzen sold 2,378 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total value of $128,530.90. Following the completion of the sale, the vice president directly owned 1,380 shares in the company, valued at $74,589. This represents 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 Investors Weigh In On Silgan

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State of Michigan Retirement System grew its holdings in shares of Silgan by 1.0% during the first quarter. State of Michigan Retirement System now owns 19,400 shares of the industrial products company's stock valued at $992,000 after buying an additional 200 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Silgan by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the industrial products company's stock worth $1,160,000 after purchasing an additional 200 shares during the last quarter. Central Pacific Bank Trust Division lifted its position in shares of Silgan by 5.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,760 shares of the industrial products company's stock worth $192,000 after purchasing an additional 210 shares during the last quarter. Aristeia Capital L.L.C. lifted its position in shares of Silgan by 4.0% during the 4th quarter. Aristeia Capital L.L.C. now owns 5,488 shares of the industrial products company's stock worth $286,000 after purchasing an additional 212 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Silgan by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,440 shares of the industrial products company's stock worth $1,897,000 after purchasing an additional 230 shares in the last quarter. 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.

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