Silgan (NYSE:SLGN) Price Target Raised to $57.00 at JPMorgan Chase & Co.

Silgan (NYSE:SLGN) had its price objective hoisted by JPMorgan Chase & Co. from $53.00 to $57.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 3.45% from the company’s previous close.

Several other research firms have also issued reports on SLGN. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Truist Financial upped their price target on shares of Silgan from $63.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada upped their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Bank of America upped their price target on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Raymond James upped their price target on shares of Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.22.

Silgan Price Performance

NYSE:SLGN opened at $55.10 on Thursday. Silgan has a one year low of $41.14 and a one year high of $58.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 1.34 and a beta of 0.71. The firm’s fifty day moving average is $53.64 and its two-hundred day moving average is $51.87.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.77%. Research analysts expect that Silgan will post 4.09 EPS for the current year.

Institutional Trading of Silgan

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Silgan by 7.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company’s stock worth $290,000 after buying an additional 361 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Silgan by 5.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock worth $390,000 after buying an additional 388 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Silgan by 1.1% during the 2nd quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock worth $1,594,000 after buying an additional 421 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Silgan by 5.7% during the 3rd quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company’s stock worth $441,000 after buying an additional 456 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Silgan by 27.7% during the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after buying an additional 494 shares during 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.