Silgan (NASDAQ:SLGN) Price Target Raised to $50.00 at Citigroup

Silgan (NASDAQ:SLGNGet Rating) had its target price raised by investment analysts at Citigroup from $45.00 to $50.00 in a report issued on Friday, April 8th, The Fly reports. Citigroup’s price objective would indicate a potential upside of 8.18% from the company’s previous close.

Several other analysts have also issued reports on SLGN. Royal Bank of Canada raised their price target on shares of Silgan from $50.00 to $57.00 in a research report on Thursday, January 27th. Raymond James raised their price target on shares of Silgan from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, January 27th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Silgan from $41.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, January 27th. KeyCorp raised their price target on shares of Silgan from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, January 27th. Finally, StockNews.com started coverage on shares of Silgan in a research report on Thursday, March 31st. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.70.

SLGN traded up $1.07 during trading on Friday, hitting $46.22. The stock had a trading volume of 496,923 shares, compared to its average volume of 486,753. The firm has a market cap of $5.12 billion, a PE ratio of 13.88, a P/E/G ratio of 2.24 and a beta of 0.76. Silgan has a 12 month low of $37.10 and a 12 month high of $46.98. The company has a current ratio of 0.44, a quick ratio of 0.24 and a debt-to-equity ratio of 2.41. The company has a 50 day simple moving average of $44.52 and a 200-day simple moving average of $43.01.

Silgan (NASDAQ:SLGNGet Rating) last announced its earnings results on Wednesday, April 27th. The industrial products company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.40 billion. Silgan had a net margin of 6.30% and a return on equity of 25.33%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. As a group, sell-side analysts anticipate that Silgan will post 3.96 earnings per share for the current fiscal year.

In other Silgan news, Chairman Anthony J. Allott sold 6,410 shares of the business’s stock in a transaction dated Friday, February 18th. The shares were sold at an average price of $43.06, for a total value of $276,014.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Anthony J. Allott sold 70,000 shares of the business’s stock in a transaction dated Tuesday, February 8th. The stock was sold at an average price of $44.05, for a total transaction of $3,083,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,941 shares of company stock worth $4,332,185. Company insiders own 24.38% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SLGN. Amundi Pioneer Asset Management Inc. bought a new position in shares of Silgan in the first quarter worth about $190,000. Morgan Stanley raised its stake in shares of Silgan by 40.9% during the second quarter. Morgan Stanley now owns 139,393 shares of the industrial products company’s stock worth $5,784,000 after buying an additional 40,478 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Silgan during the third quarter worth approximately $973,000. Strs Ohio bought a new stake in shares of Silgan during the third quarter worth approximately $2,273,000. Finally, Boston Trust Walden Corp raised its stake in shares of Silgan by 2.0% during the third quarter. Boston Trust Walden Corp now owns 912,976 shares of the industrial products company’s stock worth $35,021,000 after buying an additional 18,260 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Silgan Company Profile (Get Rating)

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products in North America, Europe, and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

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