Silgan (NYSE:SLGN) Receives Buy Rating from Truist Financial

Silgan (NYSE:SLGN)‘s stock had its “buy” rating reiterated by analysts at Truist Financial in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $70.00 price objective on the industrial products company’s stock, up from their previous price objective of $69.00. Truist Financial’s price objective would indicate a potential upside of 25.32% from the stock’s current price.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price objective on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada raised their price objective on Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Wells Fargo & Company raised their price objective 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 objective on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Raymond James raised their price objective on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.38.

Silgan Price Performance

Shares of SLGN stock traded up $0.08 during mid-day trading on Thursday, hitting $55.86. 147,360 shares of the stock traded hands, compared to its average volume of 521,728. Silgan has a twelve month low of $41.14 and a twelve month high of $58.14. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 1.26 and a beta of 0.71. The company’s 50-day simple moving average is $53.66 and its 200-day simple moving average is $51.77. 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 (NYSE:SLGN) last issued its quarterly earnings results 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 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 Trading of Silgan

A number of institutional investors have recently bought and sold shares of the company. FMR LLC raised its holdings in Silgan by 87.7% during the third quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock valued at $329,619,000 after buying an additional 2,932,680 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Silgan by 1.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock valued at $137,047,000 after buying an additional 29,565 shares in the last quarter. State Street Corp raised its holdings in Silgan by 0.6% during the third quarter. State Street Corp now owns 2,497,683 shares of the industrial products company’s stock valued at $131,128,000 after buying an additional 14,109 shares in the last quarter. Geode Capital Management LLC raised its holdings in Silgan by 11.7% during 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 buying an additional 157,160 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings in Silgan by 0.9% during the third quarter. Segall Bryant & Hamill LLC now owns 1,278,560 shares of the industrial products company’s stock valued at $67,124,000 after buying an additional 11,655 shares in the last quarter. Institutional investors and hedge funds 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.