Royal Bank of Canada Issues Positive Forecast for Silgan (NYSE:SLGN) Stock Price

Silgan (NYSE:SLGN) had its price target upped by investment analysts at Royal Bank of Canada from $58.00 to $63.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 20.74% from the company’s current price.

Separately, StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $58.14.

Silgan Price Performance

NYSE:SLGN opened at $52.18 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. Silgan has a one year low of $41.14 and a one year high of $58.14. The company has a fifty day moving average price of $53.89 and a 200 day moving average price of $50.04. The stock has a market cap of $5.57 billion, a P/E ratio of 18.91, a PEG ratio of 1.44 and a beta of 0.69.

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 analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the company posted $1.16 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. Analysts anticipate that Silgan will post 3.6 earnings per share for the current year.

Institutional Trading of Silgan

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in Silgan by 256.6% during the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 426 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Silgan during the second quarter worth approximately $70,000. Venturi Wealth Management LLC raised its stake in shares of Silgan by 220.4% in the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 963 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Silgan by 51.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock worth $93,000 after acquiring an additional 606 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Silgan during the 2nd quarter worth approximately $104,000. 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.