Silgan (NYSE:SLGN) Price Target Raised to $51.00

Silgan (NYSE:SLGNFree 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.

Check Out Our Latest Research Report on Silgan

Silgan Stock Down 1.2 %

Shares of NYSE:SLGN opened at $44.71 on Friday. Silgan has a 52-week low of $38.11 and a 52-week high of $54.99. The stock has a market cap of $4.92 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 2.47 and a beta of 0.69. The business’s 50 day moving average is $43.94 and its 200 day moving average is $43.30. The company has a quick ratio of 0.29, a current ratio of 0.48 and a debt-to-equity ratio of 1.86.

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

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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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Analyst Recommendations for Silgan (NYSE:SLGN)

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