JPMorgan Chase & Co. Boosts Silgan (NYSE:SLGN) Price Target to $57.00

Silgan (NYSE:SLGN) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $53.00 to $57.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 1.87% from the stock’s current price.

A number of other analysts have also weighed in on the company. Wells Fargo & Company increased their target price on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America raised their price target on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Raymond James boosted their price objective on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday. Royal Bank of Canada raised their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, StockNews.com lowered 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.25.

Silgan Trading Up 0.3 %

NYSE SLGN traded up $0.18 on Thursday, hitting $55.96. 95,738 shares of the stock were exchanged, compared to its average volume of 519,545. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. Silgan has a 52-week low of $41.14 and a 52-week high of $58.14. The firm has a market capitalization of $5.98 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.26 and a beta of 0.71. The stock has a fifty day moving average price of $53.66 and a two-hundred day moving average price of $51.77.

Silgan (NYSE:SLGN) last released 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 net margin of 5.11% and a return on equity of 18.76%. Research analysts forecast that Silgan will post 3.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Silgan

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLGN. FMR LLC boosted its position in shares of Silgan by 87.7% in the 3rd quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock worth $329,619,000 after purchasing an additional 2,932,680 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Silgan during the third quarter worth about $11,422,000. Two Sigma Advisers LP increased its holdings in shares of Silgan by 202.3% during the third quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company’s stock valued at $13,015,000 after acquiring an additional 165,900 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Silgan by 11.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock valued at $78,509,000 after purchasing an additional 157,160 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Silgan by 62.5% in the 2nd quarter. Millennium Management LLC now owns 322,482 shares of the industrial products company’s stock worth $13,651,000 after purchasing an additional 124,020 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.