Silgan (NYSE:SLGN) Given New $62.00 Price Target at Truist Financial

Silgan (NYSE:SLGN - Get Free Report) had its price target reduced by research analysts at Truist Financial from $70.00 to $62.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Truist Financial's price target indicates a potential upside of 20.92% from the company's current price.

SLGN has been the subject of several other research reports. Bank of America lifted their price target on Silgan from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and decreased their target price for the stock from $65.00 to $60.00 in a report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Robert W. Baird raised their price target on shares of Silgan from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, Loop Capital upped their price objective on Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $62.78.

Silgan Stock Down 0.8 %

NYSE SLGN traded down $0.42 during trading hours on Tuesday, reaching $51.27. 105,794 shares of the company's stock traded hands, compared to its average volume of 769,298. The firm has a market cap of $5.48 billion, a PE ratio of 19.87, a PEG ratio of 1.27 and a beta of 0.81. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. Silgan has a 52-week low of $41.14 and a 52-week high of $58.14. The firm has a 50-day simple moving average of $50.71 and a 200 day simple moving average of $52.41.

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

Insider Activity at Silgan

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the completion of the sale, the executive vice president now owns 152,133 shares of the company's stock, valued at approximately $8,096,518.26. The trade was a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $54.73, for a total value of $6,841,250.00. Following the transaction, the chief executive officer now directly owns 227,332 shares in the company, valued at approximately $12,441,880.36. The trade was a 35.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

Institutional Trading of Silgan

Institutional investors and hedge funds have recently modified their holdings of the company. CX Institutional purchased a new position in Silgan in the 1st quarter worth approximately $42,000. UMB Bank n.a. lifted its holdings in shares of Silgan by 254.9% in the first quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock worth $46,000 after buying an additional 645 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Silgan during the first quarter valued at $51,000. GeoWealth Management LLC bought a new stake in Silgan in the 4th quarter valued at $56,000. Finally, Bank of Jackson Hole Trust purchased a new stake in Silgan in the 4th quarter worth $59,000. 70.25% of the stock is currently 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.