Silgan (NYSE:SLGN) Price Target Raised to $58.00

Silgan (NYSE:SLGN) had its target price increased by Royal Bank of Canada from $55.00 to $58.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 10.39% from the stock’s current price.

Several other research analysts also recently weighed in on SLGN. Wells Fargo & Company lifted their target price on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Robert W. Baird increased their price target on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Citigroup increased their price target on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Finally, StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

Silgan Stock Up 1.5 %

Silgan stock traded up $0.80 during midday trading on Friday, hitting $52.54. The stock had a trading volume of 521,135 shares, compared to its average volume of 560,407. The company has a current ratio of 0.52, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. The stock has a market cap of $5.61 billion, a P/E ratio of 18.94, a P/E/G ratio of 1.26 and a beta of 0.67. Silgan has a 12 month low of $40.01 and a 12 month high of $52.84. The business has a fifty day moving average price of $51.22 and a 200 day moving average price of $48.05.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share 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 business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the firm posted $1.16 EPS. The business’s quarterly revenue was down 3.2% on a year-over-year basis. Research analysts predict that Silgan will post 3.65 EPS for the current year.

Insider Buying and Selling

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the business’s 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 sale, the vice president now owns 11,495 shares of the company’s stock, valued at $563,714.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.39% of the stock is currently owned by company insiders.

Institutional Trading of Silgan

Several institutional investors and hedge funds have recently made changes to their positions in SLGN. Janus Henderson Group PLC lifted its holdings in shares of Silgan by 95.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock worth $59,462,000 after acquiring an additional 598,472 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in Silgan during the second quarter valued at approximately $19,666,000. Boston Trust Walden Corp increased its position in shares of Silgan by 20.6% during the 2nd quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock valued at $79,776,000 after purchasing an additional 322,511 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Silgan by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock worth $125,404,000 after buying an additional 204,384 shares in the last quarter. Finally, SG Capital Management LLC purchased a new stake in Silgan in the 1st quarter worth $8,584,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

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.