Wells Fargo & Company Trims Silgan (NYSE:SLGN) Target Price to $54.00

Silgan (NYSE:SLGN) had its price objective lowered by analysts at Wells Fargo & Company from $55.00 to $54.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 18.68% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Citigroup lifted their price target on shares of Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Truist Financial boosted their target price on shares of Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. JPMorgan Chase & Co. boosted their price target on shares of Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a report on Thursday, February 1st. Royal Bank of Canada boosted their price target on shares of Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Raymond James boosted their price target on shares of Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Silgan currently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Silgan Stock Up 1.7 %

Shares of NYSE SLGN traded up $0.78 during midday trading on Thursday, hitting $45.50. The stock had a trading volume of 181,263 shares, compared to its average volume of 575,238. The business’s 50 day moving average is $46.07 and its 200-day moving average is $44.12. The company has a market cap of $4.86 billion, a P/E ratio of 15.20, a PEG ratio of 2.54 and a beta of 0.69. Silgan has a 52 week low of $38.11 and a 52 week high of $49.72. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 1.35.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Silgan had a net margin of 5.44% and a return on equity of 20.29%. As a group, analysts predict that Silgan will post 3.67 EPS for the current year.

Insider Buying and Selling at Silgan

In other Silgan news, VP B Frederik Prinzen sold 4,684 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $43.89, for a total transaction of $205,580.76. Following the transaction, the vice president now owns 8,613 shares in the company, valued at approximately $378,024.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.08% of the stock is currently owned by company insiders.

Institutional Trading of Silgan

Several large investors have recently made changes to their positions in the business. Brown Advisory Inc. boosted its holdings in Silgan by 10.5% during the third quarter. Brown Advisory Inc. now owns 8,785 shares of the industrial products company’s stock worth $379,000 after buying an additional 837 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Silgan by 17.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,390 shares of the industrial products company’s stock worth $750,000 after buying an additional 2,599 shares in the last quarter. Inspire Investing LLC lifted its holdings in Silgan by 6.2% during the third quarter. Inspire Investing LLC now owns 7,112 shares of the industrial products company’s stock valued at $307,000 after purchasing an additional 414 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Silgan by 92.4% during the third quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 538 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Silgan during the third quarter valued at $1,582,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.