Silgan (NYSE:SLGN) Given New $65.00 Price Target at Raymond James

Silgan (NYSE:SLGN - Get Free Report) had its price target raised by analysts at Raymond James from $62.00 to $65.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the industrial products company's stock. Raymond James' price objective would indicate a potential upside of 18.78% from the stock's current price.

A number of other brokerages have also recently issued reports on SLGN. Bank of America raised their price objective on Silgan from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Wells Fargo & Company raised their price target on Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday. Royal Bank of Canada boosted their price objective on Silgan from $58.00 to $63.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Truist Financial raised their target price on shares of Silgan from $63.00 to $69.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, StockNews.com lowered shares of Silgan from a "buy" rating to a "hold" rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $64.22.

Silgan Price Performance

Shares of Silgan stock traded down $0.30 during trading on Thursday, hitting $54.72. 632,283 shares of the stock traded hands, compared to its average volume of 673,977. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.26 and a beta of 0.71. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. Silgan has a 52 week low of $41.14 and a 52 week high of $58.14. The firm's fifty day moving average is $53.64 and its 200-day moving average is $51.96.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. Research analysts expect that Silgan will post 4.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Silgan

A number of institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Silgan by 7.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company's stock worth $290,000 after acquiring an additional 361 shares during the period. Verdence Capital Advisors LLC raised its holdings in Silgan by 5.5% in the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company's stock worth $390,000 after purchasing an additional 388 shares in the last quarter. AQR Capital Management LLC lifted its position in Silgan by 1.1% during the second quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company's stock valued at $1,594,000 after buying an additional 421 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Silgan by 5.7% during the 3rd quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company's stock valued at $441,000 after buying an additional 456 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Silgan by 27.7% in the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company's stock worth $120,000 after buying an additional 494 shares during the period. 70.25% of the stock is owned by institutional investors.

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.