Silgan (NYSE:SLGN) Earns Neutral Rating from Bank of America

Silgan (NYSE:SLGN)‘s stock had its “neutral” rating restated by equities research analysts at Bank of America in a research report issued to clients and investors on Wednesday, Marketbeat reports. They currently have a $59.00 target price on the industrial products company’s stock, up from their prior target price of $57.00. Bank of America‘s price target indicates a potential upside of 6.61% from the stock’s previous close.

Several other equities analysts also recently issued reports on the company. Truist Financial cut their target price on Silgan from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Raymond James Financial raised Silgan from an “outperform” rating to a “strong-buy” rating and cut their price target for the stock from $65.00 to $60.00 in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. raised Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price target on the stock in a research report on Thursday, May 1st. Finally, Citigroup increased their price target on Silgan from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $62.89.

Silgan Stock Down 0.3%

Shares of NYSE:SLGN opened at $55.34 on Wednesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.14 and a quick ratio of 0.67. The firm has a market capitalization of $5.92 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.24 and a beta of 0.75. The business has a 50 day simple moving average of $54.79 and a two-hundred day simple moving average of $52.74. Silgan has a 1 year low of $42.56 and a 1 year high of $58.14.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.48 billion. Silgan had a return on equity of 20.00% and a net margin of 4.82%. Silgan’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share. On average, equities analysts predict that Silgan will post 4.11 EPS for the current year.

Insider Activity at Silgan

In related news, EVP Robert B. Lewis sold 10,000 shares of Silgan stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the completion of the sale, the executive vice president owned 153,378 shares in the company, valued at approximately $8,576,897.76. This trade represents a 6.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total transaction of $128,530.90. Following the completion of the sale, the vice president owned 1,380 shares of the company’s stock, valued at $74,589. This trade represents a 63.28% decrease in their position. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by insiders.

Institutional Trading of Silgan

Institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group grew its stake in shares of Silgan by 4,394.1% in the first quarter. Brooklyn Investment Group now owns 764 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 747 shares in the last quarter. CX Institutional acquired a new position in shares of Silgan in the first quarter worth $42,000. UMB Bank n.a. grew its stake in shares of Silgan by 254.9% in the first quarter. UMB Bank n.a. now owns 898 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 645 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Silgan in the first quarter worth $51,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Silgan in the first quarter worth $54,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

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.