Bank of America Increases Silgan (NYSE:SLGN) Price Target to $61.00

Silgan (NYSE:SLGN) had its price objective upped by analysts at Bank of America from $60.00 to $61.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price target would indicate a potential upside of 18.52% from the company’s previous close.

A number of other equities analysts have also commented on SLGN. Royal Bank of Canada raised their price objective on shares of Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Truist Financial upped their price target on Silgan from $63.00 to $69.00 and gave the stock a “buy” rating in a report on Monday. Finally, StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Two investment 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, the company has an average rating of “Moderate Buy” and a consensus price target of $59.75.

Silgan Stock Up 0.9 %

Shares of Silgan stock traded up $0.46 during trading hours on Monday, hitting $51.47. 130,009 shares of the company’s stock traded hands, compared to its average volume of 348,537. The company has a market cap of $5.50 billion, a PE ratio of 18.65, a PEG ratio of 1.44 and a beta of 0.71. The stock has a 50 day simple moving average of $54.05 and a 200-day simple moving average of $50.65. 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 has a twelve month low of $41.14 and a twelve month high of $58.14.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 EPS. Equities research analysts anticipate that Silgan will post 3.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silgan

Institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC grew its position in Silgan by 220.4% in the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 963 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Silgan in the second quarter valued at about $70,000. GAMMA Investing LLC raised its stake in Silgan by 51.8% during the third quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock worth $93,000 after buying an additional 606 shares during the last quarter. KBC Group NV raised 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 acquiring an additional 494 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Silgan during the 2nd quarter valued at about $104,000. 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.