Raymond James raises Silgan (NASDAQ:SLGN) price target to $50.00
Silgan (NASDAQ:SLGN) saw its target price raised by Raymond James equity researchers from $47.00 to $50.00 in a research report released Thursday to clients and investors, Stock Target Advisor reports. The company currently has an “outperform” rating on shares of the industrial products company. Raymond James’ price target indicates a potential upside of 18.68% from the stock’s previous close.
A number of other stock analysts have also recently weighed in on SLGN. JPMorgan Chase & Co. upgraded Silgan from a “neutral” rating to an “underweight” rating and lowered its price target for the stock from $44.00 to $40.00 in a Friday report October 1st. Citigroup raised its price target on Silgan from $45.00 to $47.00 in a Tuesday, January 4 research report. Loop Capital began covering Silgan in a research report on Tuesday, October 5. They set a “buy” rating and a target price of $62.00 on the stock. Royal Bank of Canada raised its price target on Silgan from $49.00 to $50.00 and gave the stock an “outperform” rating in a Thursday, October 28 research report. Finally, Deutsche Bank Aktiengesellschaft raised its price target on Silgan from $41.00 to $45.00 in a research report on Thursday. One research analyst rated the stock with a sell rating, two gave the company’s stock a hold rating and seven gave the company’s stock a buy rating. Based on data from MarketBeat, Silgan has a consensus rating of “Buy” and a consensus price target of $49.73.
NASDAQ: SLGN opened at $42.13 on Thursday. Silgan has a 12-month low of $35.61 and a 12-month high of $44.55. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 14.00, a growth price-to-earnings ratio of 2.30 and a beta of 0.81. The stock has a fifty-day simple moving average of $42.19 and a 200-day simple moving average of $41.21. The company has a current ratio of 1.07, a quick ratio of 0.70 and a debt ratio of 2.19.
Silgan Inc (NASDAQ:SLGN) last released its quarterly results on Monday, January 24. The industrial products company reported earnings per share of $0.79 for the quarter, beating the Zacks consensus estimate of $0.73 by $0.06. The company posted revenue of $1.44 billion for the quarter, versus analyst estimates of $1.36 billion. Silgan had a return on equity of 26.60% and a net margin of 6.12%. The company’s revenue increased 17.3% year over year. In the same quarter of the previous year, the company made earnings per share of $0.60. As a group, equity research analysts expect Silgan to post EPS of 3.35 for the current fiscal year.
In related news, Chairman Anthony J. Allott sold 60,000 shares of Silgan in a trade that took place on Monday, November 15. The stock was sold at an average price of $42.47, for a total value of $2,548,200.00. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, CFO Robert B. Lewis sold 20,000 shares of Silgan in a trade that took place on Monday, November 22. The shares were sold at an average price of $42.13, for a total value of $842,600.00. The disclosure of this sale can be found here. 24.38% of the shares are held by insiders.
A number of hedge funds have recently changed their holdings of SLGN. Point72 Hong Kong Ltd acquired a new position in Silgan during the third quarter worth $25,000. Dark Forest Capital Management LP acquired a new position in Silgan during the second quarter worth $44,000. FORA Capital LLC acquired a new position in Silgan during the second quarter worth $80,000. Moors & Cabot Inc. acquired a new position in Silgan during the third quarter worth $103,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in Silgan during the first quarter worth $190,000. 67.95% of the shares are held by hedge funds and other institutional investors.
Silgan Company Profile
Silgan Holdings, Inc. is engaged in the manufacture and sale of rigid packaging for consumer products. It operates through the following business segments: Metal Containers, Closures and Plastic Containers. The Metal Containers segment includes steel and aluminum containers for food and feed, as well as general line products.
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