Loop Capital Forecasts Strong Price Appreciation for Silgan (NYSE:SLGN) Stock

Silgan (NYSE:SLGN) had its price objective boosted by investment analysts at Loop Capital from $70.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Loop Capital’s price target suggests a potential upside of 33.73% from the stock’s current price.

A number of other equities analysts have also issued reports on SLGN. Raymond James raised their price target on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. lifted their target price on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday. Bank of America upped their price target on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada lifted their price objective on shares of Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Silgan presently has an average rating of “Moderate Buy” and an average price target of $64.22.

Silgan Stock Performance

Shares of SLGN traded up $0.30 during midday trading on Thursday, reaching $56.08. 1,208,963 shares of the stock were exchanged, compared to its average volume of 579,856. Silgan has a twelve month low of $41.14 and a twelve month high of $58.14. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.26 and a beta of 0.71. The business’s 50-day moving average price is $53.66 and its 200 day moving average price is $51.77.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, beating 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, sell-side analysts expect that Silgan will post 3.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Silgan

A number of institutional investors and hedge funds have recently modified their holdings of SLGN. 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 worth $329,619,000 after purchasing an additional 2,932,680 shares during the last quarter. Weiss Asset Management LP purchased a new position in shares of Silgan in the third quarter valued at $11,422,000. Two Sigma Advisers LP raised its stake in shares of Silgan by 202.3% during the 3rd quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company’s stock worth $13,015,000 after buying an additional 165,900 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Silgan by 11.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock worth $78,509,000 after buying an additional 157,160 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Silgan by 62.5% in the 2nd quarter. Millennium Management LLC now owns 322,482 shares of the industrial products company’s stock valued at $13,651,000 after acquiring an additional 124,020 shares during the last quarter. Institutional investors and hedge funds 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.