Silgan (NYSE:SLGN) Given "Buy" Rating at Truist Financial

Silgan (NYSE:SLGN - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Truist Financial in a research note issued to investors on Thursday,Benzinga reports. They presently have a $70.00 price target on the industrial products company's stock, up from their prior price target of $69.00. Truist Financial's price objective indicates a potential upside of 27.83% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. Raymond James raised their price objective on Silgan from $62.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday. StockNews.com cut Silgan from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th. Royal Bank of Canada raised their target price on shares of Silgan from $58.00 to $63.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. upped their price target on shares of Silgan from $53.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $64.22.

Silgan Stock Down 0.5 %

Shares of NYSE SLGN traded down $0.26 during mid-day trading on Thursday, reaching $54.76. 762,040 shares of the company's stock were exchanged, compared to its average volume of 675,395. Silgan has a twelve month low of $41.14 and a twelve month high of $58.14. 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 $5.85 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 1.26 and a beta of 0.71. The business has a fifty day simple moving average of $53.64 and a 200 day simple moving average of $51.96.

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

Hedge Funds Weigh In On Silgan

Several hedge funds have recently modified their holdings of the company. Bank of Jackson Hole Trust purchased a new position in shares of Silgan in the fourth quarter worth about $59,000. Venturi Wealth Management LLC grew its stake in Silgan by 220.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company's stock valued at $74,000 after buying an additional 963 shares in the last quarter. GAMMA Investing LLC raised its holdings in Silgan by 51.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company's stock valued at $93,000 after acquiring an additional 606 shares during the period. KBC Group NV lifted its position in shares of Silgan by 27.7% during the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company's stock worth $120,000 after acquiring an additional 494 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Silgan in the third quarter worth $154,000. Institutional investors 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.