Silgan (NYSE:SLGN) Given New $69.00 Price Target at Truist Financial

Silgan (NYSE:SLGN) had its target price increased by equities researchers at Truist Financial from $63.00 to $69.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price would indicate a potential upside of 35.27% from the company’s current price.

Several other equities research analysts have also commented on the company. Royal Bank of Canada upped their price objective on Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.57.

Silgan Trading Down 0.1 %

NYSE:SLGN opened at $51.01 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The firm has a fifty day simple moving average of $54.05 and a 200-day simple moving average of $50.65. Silgan has a 12 month low of $41.14 and a 12 month high of $58.14. The company has a market capitalization of $5.45 billion, a P/E ratio of 18.48, a PEG ratio of 1.44 and a beta of 0.71.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 earnings per share. On average, equities research analysts anticipate that Silgan will post 3.6 earnings per share for the current year.

Institutional Investors Weigh In On Silgan

Several hedge funds and other institutional investors have recently made changes to their positions in SLGN. FMR LLC increased its stake in Silgan by 87.7% in the third quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock valued at $329,619,000 after purchasing an additional 2,932,680 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Silgan by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock valued at $125,404,000 after buying an additional 204,384 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Silgan by 1.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock worth $137,047,000 after acquiring an additional 29,565 shares in the last quarter. State Street Corp lifted its position in Silgan by 0.6% in the third quarter. State Street Corp now owns 2,497,683 shares of the industrial products company’s stock valued at $131,128,000 after acquiring an additional 14,109 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Silgan by 11.7% in the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock valued at $78,509,000 after acquiring an additional 157,160 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

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.