Silgan (NYSE:SLGN – Free Report) had its target price raised by Citigroup from $47.00 to $51.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.
SLGN has been the topic of several other research reports. Raymond James increased their price objective on Silgan from $52.00 to $54.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. Royal Bank of Canada increased their price objective on Silgan from $49.00 to $51.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. increased their price objective on Silgan from $39.00 to $46.00 and gave the stock an underweight rating in a research note on Thursday, February 1st. StockNews.com raised Silgan from a sell rating to a hold rating in a research report on Monday, October 30th. Finally, Wells Fargo & Company increased their target price on Silgan from $50.00 to $52.00 and gave the company an overweight rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $52.75.
Silgan Stock Down 1.2 %
Insider Buying and Selling
In related news, EVP Robert B. Lewis sold 25,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $40.47, for a total value of $1,011,750.00. Following the completion of the transaction, the executive vice president now owns 179,229 shares in the company, valued at approximately $7,253,397.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.08% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Silgan
A number of institutional investors have recently modified their holdings of SLGN. Raymond James & Associates raised its stake in shares of Silgan by 21.6% during the 1st quarter. Raymond James & Associates now owns 32,571 shares of the industrial products company’s stock valued at $1,506,000 after buying an additional 5,788 shares during the last quarter. Citigroup Inc. raised its stake in shares of Silgan by 5.4% during the 1st quarter. Citigroup Inc. now owns 12,553 shares of the industrial products company’s stock valued at $579,000 after buying an additional 640 shares during the last quarter. Natixis Advisors L.P. raised its stake in shares of Silgan by 9.0% during the 1st quarter. Natixis Advisors L.P. now owns 27,788 shares of the industrial products company’s stock valued at $1,285,000 after buying an additional 2,288 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Silgan by 3.3% during the 1st quarter. Bank of Montreal Can now owns 21,702 shares of the industrial products company’s stock valued at $1,009,000 after buying an additional 703 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Silgan during the 1st quarter valued at about $89,000. Hedge funds and other institutional investors own 66.24% of the company’s stock.
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, and beauty products, as well as capping/sealing equipment and detection systems.
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