Wells Fargo & Company Issues Positive Forecast for Silgan (NYSE:SLGN) Stock Price

Silgan (NYSE:SLGN - Get Free Report) had its target price upped by analysts at Wells Fargo & Company from $60.00 to $62.00 in a research report issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. Wells Fargo & Company's price target indicates a potential upside of 12.26% from the stock's previous close.

Several other equities research analysts have also recently issued reports on the company. Truist Financial set a $67.00 price target on Silgan and gave the company a "buy" rating in a research note on Friday, July 11th. Raymond James Financial reiterated a "strong-buy" rating on shares of Silgan in a research note on Tuesday, July 15th. Bank of America restated a "neutral" rating and set a $59.00 target price (up from $57.00) on shares of Silgan in a research note on Wednesday, July 9th. JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price for the company in a research note on Thursday, May 1st. Finally, Citigroup upped their target price on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $63.78.

Silgan Stock Performance

Shares of Silgan stock traded down $0.11 on Friday, hitting $55.23. The stock had a trading volume of 687,553 shares, compared to its average volume of 670,160. Silgan has a twelve month low of $44.37 and a twelve month high of $58.14. The business's 50 day moving average is $54.88 and its two-hundred day moving average is $52.84. The company has a quick ratio of 0.67, a current ratio of 1.14 and a debt-to-equity ratio of 1.67. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.75.

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

Insiders Place Their Bets

In related news, VP B Frederik Prinzen sold 2,378 shares of the 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction 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 sale, the executive vice president owned 153,378 shares of the company's stock, valued at $8,576,897.76. The trade was a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Silgan

A number of large investors have recently bought and sold shares of SLGN. Brooklyn Investment Group grew its holdings in Silgan by 4,394.1% during the 1st quarter. Brooklyn Investment Group now owns 764 shares of the industrial products company's stock worth $39,000 after acquiring an additional 747 shares during the period. CX Institutional acquired a new stake in shares of Silgan in the 1st quarter valued at about $42,000. UMB Bank n.a. grew its stake in shares of Silgan by 254.9% in the 1st quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock valued at $46,000 after buying an additional 645 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Silgan in the 1st quarter valued at about $51,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Silgan in the 1st quarter valued at about $54,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

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.