Silgan (NYSE:SLGN) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Silgan (NYSE:SLGN) had its price objective boosted by investment analysts at Royal Bank of Canada from $55.00 to $58.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 10.18% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Wells Fargo & Company increased their price objective on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Robert W. Baird lifted their target price on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Citigroup upped their target price on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Truist Financial restated a “buy” rating and issued a $59.00 price objective (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Silgan presently has an average rating of “Moderate Buy” and a consensus price target of $57.43.

Silgan Stock Up 1.7 %

Shares of NYSE SLGN opened at $52.64 on Friday. The company has a market cap of $5.62 billion, a P/E ratio of 19.07, a PEG ratio of 1.26 and a beta of 0.67. The firm has a 50-day simple moving average of $51.26 and a two-hundred day simple moving average of $48.11. Silgan has a 1 year low of $40.01 and a 1 year high of $52.84. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.52 and a quick ratio of 0.64.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS. Research analysts anticipate that Silgan will post 3.6 earnings per share for the current year.

Insider Activity

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the transaction, the vice president now directly owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Silgan

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atria Investments Inc purchased a new stake in shares of Silgan during the third quarter worth about $244,000. Verdence Capital Advisors LLC boosted its stake in Silgan by 5.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock worth $390,000 after purchasing an additional 388 shares in the last quarter. QRG Capital Management Inc. grew its position in Silgan by 17.1% during the 3rd quarter. QRG Capital Management Inc. now owns 26,273 shares of the industrial products company’s stock worth $1,379,000 after purchasing an additional 3,832 shares during the last quarter. New York State Teachers Retirement System increased its stake in Silgan by 7.6% during the 3rd quarter. New York State Teachers Retirement System now owns 106,539 shares of the industrial products company’s stock valued at $5,593,000 after purchasing an additional 7,480 shares in the last quarter. Finally, Bernzott Capital Advisors raised its holdings in shares of Silgan by 0.5% in the third quarter. Bernzott Capital Advisors now owns 155,227 shares of the industrial products company’s stock worth $8,149,000 after buying an additional 775 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

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, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.