Silgan (NYSE:SLGN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Silgan (NYSE:SLGN - Get Free Report) had its price target boosted by equities researchers at Wells Fargo & Company from $60.00 to $62.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the industrial products company's stock. Wells Fargo & Company's price target would suggest a potential upside of 10.63% from the company's current price.

SLGN has been the topic of several other reports. Truist Financial increased their price target on shares of Silgan from $62.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Raymond James Financial reissued a "strong-buy" rating on shares of Silgan in a research note on Tuesday, July 15th. Citigroup increased their price target on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Bank of America reissued a "neutral" rating and set a $59.00 price target (up from $57.00) on shares of Silgan in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. raised shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target on the stock in a research note on Thursday, May 1st. Two research 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, Silgan has a consensus rating of "Moderate Buy" and an average target price of $63.78.

Silgan Price Performance

NYSE:SLGN traded up $1.08 during midday trading on Friday, hitting $56.04. 509,018 shares of the stock were exchanged, compared to its average volume of 669,953. Silgan has a one year low of $44.37 and a one year high of $58.14. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 1.29 and a beta of 0.75. The business has a 50-day moving average price of $54.88 and a two-hundred day moving average price of $52.86. 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 (NYSE:SLGN - Get Free Report) last announced its 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. Silgan had a net margin of 4.82% and a return on equity of 20.00%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $0.69 EPS. The company's revenue was up 11.4% on a year-over-year basis. Sell-side analysts predict that Silgan will post 4.11 EPS for the current year.

Insider Activity at Silgan

In other news, VP B Frederik Prinzen sold 2,378 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 1,380 shares in the company, valued at approximately $74,589. The trade was a 63.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert B. Lewis sold 10,000 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $55.92, for a total transaction of $559,200.00. Following the transaction, the executive vice president owned 153,378 shares of the company's stock, valued at approximately $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. 1.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Silgan

A number of institutional investors have recently added to or reduced their stakes in SLGN. State of Michigan Retirement System boosted its stake in 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 worth $992,000 after acquiring an additional 200 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Silgan by 0.9% during the first 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 period. Central Pacific Bank Trust Division boosted its position in Silgan by 5.9% during the first 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 period. Aristeia Capital L.L.C. boosted its position in shares of Silgan by 4.0% in the fourth quarter. Aristeia Capital L.L.C. now owns 5,488 shares of the industrial products company's stock valued at $286,000 after acquiring an additional 212 shares during the period. Finally, CX Institutional lifted its position in Silgan by 26.2% during the second quarter. CX Institutional now owns 1,044 shares of the industrial products company's stock valued at $57,000 after purchasing an additional 217 shares during the last quarter. 70.25% of the stock is owned by institutional investors.

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.