Silgan (NYSE:SLGN) Stock Price Expected to Rise, Truist Financial Analyst Says

Silgan (NYSE:SLGN - Get Free Report) had its target price boosted by research analysts at Truist Financial from $63.00 to $69.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the industrial products company's stock. Truist Financial's price objective indicates a potential upside of 35.61% from the stock's current price.

Several other equities analysts also recently issued reports on SLGN. Royal Bank of Canada lifted their price target on shares of Silgan from $58.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. StockNews.com lowered shares of 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 seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.75.

Silgan Stock Down 0.3 %

Shares of SLGN traded down $0.13 during trading hours on Monday, reaching $50.88. The company's stock had a trading volume of 567,447 shares, compared to its average volume of 499,816. The company has a 50 day moving average of $54.04 and a two-hundred day moving average of $50.69. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.44 and a beta of 0.71. Silgan has a 1-year low of $41.14 and a 1-year high of $58.14. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). Silgan had a return on equity of 18.76% and a net margin of 5.11%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, research analysts predict that Silgan will post 3.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Silgan

Large investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. lifted its position in Silgan by 0.5% during the second quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company's stock worth $1,696,000 after acquiring an additional 218 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Silgan by 2.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company's stock valued at $453,000 after purchasing an additional 267 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in 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 buying an additional 361 shares during the period. Verdence Capital Advisors LLC increased its position in Silgan by 5.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company's stock worth $390,000 after acquiring an additional 388 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Silgan by 1.1% in 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. 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.