Truist Financial Forecasts Strong Price Appreciation for Silgan (NYSE:SLGN) Stock

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

Several other research analysts also recently commented on SLGN. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada boosted their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.75.

Silgan Trading Up 0.4 %

NYSE SLGN opened at $51.15 on Monday. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 1.44 and a beta of 0.71. The business’s fifty day moving average is $54.05 and its 200-day moving average is $50.74. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. Silgan has a one year low of $41.14 and a one year high of $58.14.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Silgan by 87.7% during 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. Deprince Race & Zollo Inc. bought a new position in Silgan during the second quarter valued at approximately $19,666,000. Weiss Asset Management LP purchased a new position in shares of Silgan during the third quarter worth approximately $11,422,000. Dimensional Fund Advisors LP lifted its holdings in shares of Silgan by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock worth $125,404,000 after acquiring an additional 204,384 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Silgan by 202.3% in the 3rd quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company’s stock valued at $13,015,000 after purchasing an additional 165,900 shares in the last quarter. Institutional investors 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.