Wells Fargo & Company Forecasts Strong Price Appreciation for Silgan (NYSE:SLGN) Stock

Silgan (NYSE:SLGN - Get Free Report) had its price objective lifted by equities researchers at Wells Fargo & Company from $58.00 to $63.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. Wells Fargo & Company's price objective suggests a potential upside of 13.03% from the company's previous close.

A number of other brokerages have also recently weighed in on SLGN. 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 note on Monday, January 6th. Royal Bank of Canada increased 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. StockNews.com lowered shares of Silgan from a "buy" rating to a "hold" rating in a research report on Wednesday, October 9th. Finally, Truist Financial lifted their price objective on Silgan from $63.00 to $69.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Silgan currently has an average rating of "Moderate Buy" and a consensus price target of $60.38.

Silgan Stock Up 5.1 %

SLGN stock opened at $55.74 on Thursday. The company's 50 day moving average is $53.66 and its two-hundred day moving average is $51.77. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. Silgan has a twelve month low of $41.14 and a twelve month high of $58.14. The stock has a market cap of $5.95 billion, a P/E ratio of 20.19, a PEG ratio of 1.26 and a beta of 0.71.

Silgan (NYSE:SLGN - Get Free Report) last issued its 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 5.11% and a return on equity of 18.76%. Research analysts expect that Silgan will post 3.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Venturi Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 963 shares during the period. GAMMA Investing LLC raised its holdings in Silgan by 51.8% in the third quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company's stock worth $93,000 after purchasing an additional 606 shares in the last quarter. KBC Group NV lifted its position in Silgan by 27.7% during the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company's stock valued at $120,000 after buying an additional 494 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Silgan in the 3rd quarter worth about $154,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Silgan by 13,482.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,124 shares of the industrial products company's stock worth $132,000 after acquiring an additional 3,101 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company's stock.

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.

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