Silgan (NYSE:SLGN) Price Target Raised to $63.00 at Wells Fargo & Company

Silgan (NYSE:SLGN) had its price objective upped by equities researchers at Wells Fargo & Company from $58.00 to $63.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 13.03% from the company’s current price.

Several other research firms also recently commented on SLGN. Truist Financial increased their price objective on shares of Silgan from $63.00 to $69.00 and gave the company a “buy” rating in a report on Monday, January 6th. Royal Bank of Canada increased their price target on Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, Bank of America increased their target price on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.38.

Silgan Price Performance

Shares of NYSE:SLGN opened at $55.74 on Thursday. 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 stock has a market capitalization of $5.95 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.26 and a beta of 0.71. The firm’s 50 day moving average price is $53.66 and its 200-day moving average price is $51.77. Silgan has a twelve month low of $41.14 and a twelve month high of $58.14.

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

Hedge Funds Weigh In On Silgan

Several institutional investors have recently bought and sold shares of the business. Venturi Wealth Management LLC grew its stake 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 worth $74,000 after acquiring an additional 963 shares during the last quarter. GAMMA Investing LLC grew its position in Silgan by 51.8% during 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 during the last quarter. KBC Group NV increased its stake 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 purchasing an additional 494 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Silgan by 13,482.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,124 shares of the industrial products company’s stock worth $132,000 after buying an additional 3,101 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Silgan during the third quarter worth $154,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.