Loop Capital Issues Positive Forecast for Silgan (NYSE:SLGN) Stock Price

Silgan (NYSE:SLGN) had its price target increased by analysts at Loop Capital from $70.00 to $75.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Loop Capital’s target price indicates a potential upside of 33.73% from the company’s current price.

Several other equities analysts have also issued reports on the stock. Robert W. Baird lifted their price target on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday. Wells Fargo & Company boosted their target price on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price target on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday. Truist Financial restated a “buy” rating and set a $70.00 price target (up previously from $69.00) on shares of Silgan in a research note on Thursday. Finally, Royal Bank of Canada increased their price objective on shares of Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the 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 Trading Up 0.5 %

SLGN traded up $0.30 on Thursday, reaching $56.08. 1,208,963 shares of the company traded hands, compared to its average volume of 579,856. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. The company has a market cap of $5.99 billion, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 1.26 and a beta of 0.71. The firm has a fifty day simple moving average of $53.66 and a two-hundred day simple moving average of $51.77. Silgan has a one year low of $41.14 and a one year high of $58.14.

Silgan (NYSE:SLGN) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 18.76% and a net margin of 5.11%. As a group, equities research analysts expect that Silgan will post 3.6 earnings per share for the current year.

Institutional Investors Weigh In On Silgan

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Silgan by 87.7% in the 3rd quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock valued at $329,619,000 after purchasing an additional 2,932,680 shares during the last quarter. Weiss Asset Management LP purchased a new stake in shares of Silgan during the 3rd quarter valued at approximately $11,422,000. Two Sigma Advisers LP lifted its holdings 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 last quarter. Geode Capital Management LLC grew its position 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 worth $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% during the second quarter. Millennium Management LLC now owns 322,482 shares of the industrial products company’s stock worth $13,651,000 after acquiring an additional 124,020 shares during the last quarter. Institutional investors and hedge funds 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.