Silgan (NYSE:SLGN) Given New $63.00 Price Target at Royal Bank of Canada

Silgan (NYSE:SLGN) had its price target hoisted by investment analysts at Royal Bank of Canada from $58.00 to $63.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 20.67% from the stock’s previous close.

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

Silgan Stock Up 0.1 %

Shares of NYSE SLGN traded up $0.05 during midday trading on Thursday, hitting $52.21. The company’s stock had a trading volume of 129,053 shares, compared to its average volume of 567,380. The business’s fifty day simple moving average is $53.87 and its two-hundred day simple moving average is $50.02. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69. 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 1 year low of $41.14 and a 1 year high of $58.14.

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 return on equity of 18.76% and a net margin of 5.11%. 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 firm posted $1.16 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities analysts predict that Silgan will post 3.6 EPS for the current year.

Hedge Funds Weigh In On Silgan

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in Silgan by 256.6% in the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 426 shares during the period. Headlands Technologies LLC acquired a new position in shares of Silgan in the 2nd quarter valued at about $70,000. Venturi Wealth Management LLC grew its position in shares of Silgan by 220.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after buying an additional 963 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Silgan by 51.8% in the third 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 during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Silgan in the second quarter valued at approximately $104,000. Hedge funds and other institutional investors 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.