Silgan (NYSE:SLGN) Price Target Lowered to $62.00 at Truist Financial

Silgan (NYSE:SLGN - Get Free Report) had its price target cut by stock analysts at Truist Financial from $70.00 to $62.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Truist Financial's price objective points to a potential upside of 20.44% from the company's current price.

Several other brokerages have also issued reports on SLGN. Raymond James upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and dropped their target price for the company from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Bank of America lifted their price objective on shares of Silgan from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Monday, January 6th. JPMorgan Chase & Co. increased their target price on Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Wells Fargo & Company lifted their price target on Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada increased their price objective on Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $62.78.

Silgan Price Performance

Shares of SLGN stock traded down $0.21 during trading hours on Tuesday, reaching $51.48. The stock had a trading volume of 696,804 shares, compared to its average volume of 658,559. The stock's fifty day simple moving average is $50.65 and its 200 day simple moving average is $52.43. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $5.51 billion, a PE ratio of 19.95, a PEG ratio of 1.27 and a beta of 0.81. Silgan has a 12 month low of $41.14 and a 12 month high of $58.14.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. On average, equities research analysts predict that Silgan will post 4.11 EPS for the current year.

Insider Activity at Silgan

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the completion of the transaction, the executive vice president now owns 152,133 shares in the company, valued at approximately $8,096,518.26. The trade was a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $54.73, for a total value of $6,841,250.00. Following the completion of the sale, the chief executive officer now directly owns 227,332 shares in the company, valued at approximately $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Silgan

A number of institutional investors have recently made changes to their positions in the company. Stifel Financial Corp purchased a new stake in Silgan during the 3rd quarter valued at $203,000. MML Investors Services LLC raised its position in Silgan by 20.7% in the 3rd quarter. MML Investors Services LLC now owns 6,482 shares of the industrial products company's stock worth $340,000 after buying an additional 1,113 shares during the last quarter. Barclays PLC lifted its stake in Silgan by 23.6% during the 3rd quarter. Barclays PLC now owns 57,327 shares of the industrial products company's stock valued at $3,010,000 after acquiring an additional 10,936 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Silgan by 32.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 7,182 shares of the industrial products company's stock valued at $406,000 after acquiring an additional 1,747 shares during the last quarter. Finally, Franklin Resources Inc. bought a new stake in shares of Silgan in the third quarter worth approximately $223,000. 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.