Raymond James Increases Silgan (NYSE:SLGN) Price Target to $65.00

Silgan (NYSE:SLGN) had its price objective upped by analysts at Raymond James from $62.00 to $65.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Raymond James’ price objective suggests a potential upside of 16.16% from the company’s current price.

SLGN has been the topic of several other research reports. Bank of America increased 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. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada lifted their price objective on Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Wells Fargo & Company boosted their price objective on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, 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 research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Silgan presently has an average rating of “Moderate Buy” and a consensus price target of $61.75.

Silgan Stock Performance

Shares of Silgan stock opened at $55.96 on Thursday. The business’s 50 day moving average price is $53.66 and its 200 day moving average price is $51.77. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 1.26 and a beta of 0.71. 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 has a one year low of $41.14 and a one year high of $58.14.

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

Hedge Funds Weigh In On Silgan

Several hedge funds have recently bought and sold shares of SLGN. Nicola Wealth Management LTD. grew its holdings in Silgan by 24.4% in the third quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company’s stock valued at $5,087,000 after purchasing an additional 19,000 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in shares of Silgan during the 3rd quarter valued at $2,975,000. BNP Paribas Financial Markets increased its holdings in shares of Silgan by 144.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock worth $2,884,000 after buying an additional 32,432 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Silgan by 1.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock worth $137,047,000 after buying an additional 29,565 shares during the period. Finally, Versor Investments LP increased its stake in Silgan by 112.7% during the 3rd quarter. Versor Investments LP now owns 10,208 shares of the industrial products company’s stock worth $536,000 after buying an additional 5,408 shares during the period. Hedge funds and other institutional investors 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.