Truist Financial Reaffirms “Buy” Rating for Silgan (NYSE:SLGN)

Silgan (NYSE:SLGN)‘s stock had its “buy” rating reissued by stock analysts at Truist Financial in a report issued on Thursday,Benzinga reports. They presently have a $70.00 price objective on the industrial products company’s stock, up from their prior price objective of $69.00. Truist Financial’s price objective suggests a potential upside of 27.05% from the stock’s current price.

A number of other research analysts have also commented on the stock. Raymond James raised their price objective on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada lifted 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. Finally, Bank of America lifted 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. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Silgan presently has a consensus rating of “Moderate Buy” and an average price target of $64.22.

Silgan Stock Performance

SLGN opened at $55.10 on Thursday. Silgan has a twelve month low of $41.14 and a twelve month high of $58.14. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The stock has a market cap of $5.88 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.34 and a beta of 0.71. The business’s 50 day moving average is $53.64 and its 200-day moving average is $51.87.

Silgan (NYSE:SLGN) last posted its quarterly earnings data 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 4.72% and a return on equity of 19.77%. On average, analysts predict that Silgan will post 4.09 earnings per share for the current year.

Hedge Funds Weigh In On Silgan

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in 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 purchasing an additional 361 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake 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 valued at $390,000 after buying an additional 388 shares during the period. AQR Capital Management LLC boosted its stake 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 valued at $1,594,000 after buying an additional 421 shares during the period. Captrust Financial Advisors boosted its stake 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 valued at $441,000 after buying an additional 456 shares during the period. Finally, KBC Group NV boosted its stake 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 valued at $120,000 after buying an additional 494 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

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.