Truist Financial Issues Positive Forecast for Silgan (NYSE:SLGN) Stock Price

Silgan (NYSE:SLGN) had its target price upped by research analysts at Truist Financial from $63.00 to $69.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price would indicate a potential upside of 34.90% from the company’s current price.

A number of other brokerages have also weighed in on SLGN. Royal Bank of Canada lifted their price objective on Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Silgan currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.75.

Silgan Stock Up 0.4 %

Shares of Silgan stock opened at $51.15 on Monday. 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 company’s 50 day moving average price is $54.05 and its 200-day moving average price is $50.74. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 1.44 and a beta of 0.71.

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

Institutional Trading of Silgan

A number of hedge funds and other institutional investors have recently modified their holdings of SLGN. Headlands Technologies LLC bought a new stake in Silgan during the second quarter worth about $70,000. Venturi Wealth Management LLC lifted its holdings in shares of Silgan by 220.4% during the third 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 last quarter. GAMMA Investing LLC boosted its position in shares of Silgan by 51.8% in the 3rd 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. Meeder Asset Management Inc. purchased a new stake in shares of Silgan in the 2nd quarter worth approximately $104,000. Finally, KBC Group NV increased its position in Silgan by 27.7% during the 3rd 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 in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.