Royal Bank of Canada Boosts Silgan (NYSE:SLGN) Price Target to $58.00

Silgan (NYSE:SLGN - Get Free Report) had its price objective hoisted by 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 target price points to a potential upside of 10.31% from the company's previous close.

SLGN has been the topic of several other reports. Robert W. Baird boosted their price objective on Silgan from $53.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. StockNews.com downgraded Silgan from a "buy" rating to a "hold" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded shares of Silgan from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Citigroup raised their target price on shares of Silgan from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Finally, Truist Financial reiterated a "buy" rating and set a $59.00 price target (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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $57.43.

Silgan Price Performance

Shares of Silgan stock traded up $0.84 during trading hours on Friday, hitting $52.58. The company's stock had a trading volume of 892,766 shares, compared to its average volume of 562,160. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 0.52. Silgan has a 12-month low of $40.01 and a 12-month high of $52.84. The business has a 50 day moving average price of $51.26 and a two-hundred day moving average price of $48.11. The company has a market cap of $5.61 billion, a PE ratio of 19.05, a PEG ratio of 1.26 and a beta of 0.67.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). The company 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Analysts expect that Silgan will post 3.65 earnings per share for the current fiscal year.

Insider Transactions at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the sale, the vice president now directly owns 11,495 shares of the company's stock, valued at $563,714.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.39% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SLGN. Dimensional Fund Advisors LP increased its holdings in shares of Silgan by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company's stock valued at $125,404,000 after acquiring an additional 204,384 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Silgan by 1.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company's stock worth $137,047,000 after purchasing an additional 29,565 shares in the last quarter. Boston Trust Walden Corp lifted its position in shares of Silgan by 20.6% during the second quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company's stock valued at $79,776,000 after buying an additional 322,511 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Silgan by 95.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company's stock valued at $59,462,000 after buying an additional 598,472 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Silgan by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 832,817 shares of the industrial products company's stock worth $35,253,000 after buying an additional 17,328 shares during the last quarter. 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.