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

Silgan (NYSE:SLGN) had its price target boosted by equities research analysts at Raymond James from $62.00 to $65.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Raymond James’ target price points to a potential upside of 17.97% from the stock’s previous close.

Several other research firms have also weighed in on SLGN. Wells Fargo & Company lifted 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. Bank of America lifted their price objective on shares of Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, January 6th. StockNews.com downgraded 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 company an “outperform” rating in a research report on Thursday, December 19th. Finally, Truist Financial lifted their price target 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 analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Silgan Stock Down 1.9 %

Silgan stock opened at $55.10 on Thursday. 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 52-week low of $41.14 and a 52-week high of $58.14. The firm has a 50 day moving average price of $53.64 and a two-hundred day moving average price of $51.87. 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.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating 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%. Equities analysts predict that Silgan will post 4.09 EPS for the current year.

Hedge Funds Weigh In On Silgan

A number of hedge funds have recently bought and sold shares of SLGN. Bank of Jackson Hole Trust bought a new stake in shares of Silgan during the 4th quarter worth $59,000. Venturi Wealth Management LLC raised its stake in shares of Silgan by 220.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 963 shares during the period. GAMMA Investing LLC raised its stake in shares of Silgan by 51.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 606 shares during the period. KBC Group NV raised 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 worth $120,000 after purchasing an additional 494 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Silgan during the 3rd quarter worth $154,000. 70.25% of the stock is 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.