Silgan (NYSE:SLGN) Given “Buy” Rating at Truist Financial

Silgan (NYSE:SLGN)‘s stock had its “buy” rating reiterated by equities researchers at Truist Financial in a note issued to investors on Thursday,Benzinga reports. They presently have a $70.00 target price on the industrial products company’s stock, up from their previous target price of $69.00. Truist Financial’s target price indicates a potential upside of 27.05% from the company’s current price.

A number of other research analysts have also weighed in on the stock. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Bank of America boosted their target price on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada boosted 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. Raymond James boosted their target price on shares of Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company boosted their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Silgan Stock Down 1.9 %

SLGN stock opened at $55.10 on Thursday. 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 1 year low of $41.14 and a 1 year high of $58.14. The company has a fifty day simple moving average of $53.64 and a 200 day simple moving average of $51.87. The firm has a market cap of $5.88 billion, a PE ratio of 21.36, a PEG ratio of 1.34 and a beta of 0.71.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.77%. Sell-side analysts anticipate that Silgan will post 4.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its stake in Silgan by 87.7% in the third quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock valued at $329,619,000 after acquiring an additional 2,932,680 shares during the period. Weiss Asset Management LP bought a new stake in Silgan in the third quarter valued at about $11,422,000. Two Sigma Advisers LP increased its stake in Silgan by 202.3% in 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 during the period. Geode Capital Management LLC increased its stake in Silgan by 11.7% in the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock valued at $78,509,000 after acquiring an additional 157,160 shares during the period. Finally, Millennium Management LLC increased its stake in Silgan by 62.5% in the second quarter. Millennium Management LLC now owns 322,482 shares of the industrial products company’s stock valued at $13,651,000 after acquiring an additional 124,020 shares during the period. Institutional investors own 70.25% of the company’s stock.

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.