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

Silgan (NYSE:SLGN - Get Free Report) had its price objective hoisted by investment analysts at Royal Bank of Canada from $63.00 to $65.00 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 price target would suggest a potential upside of 18.70% from the stock's previous close.

SLGN has been the topic of several other research reports. Wells Fargo & Company lifted their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday. Raymond James boosted their price target on shares of Silgan from $62.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday. StockNews.com cut shares of Silgan from a "buy" rating to a "hold" rating in a research report on Wednesday, October 9th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $70.00 target price (up previously from $69.00) on shares of Silgan in a research report on Thursday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.22.

Silgan Stock Performance

Shares of NYSE:SLGN traded down $0.26 during trading on Thursday, hitting $54.76. 956,306 shares of the stock traded hands, compared to its average volume of 681,193. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 1.26 and a beta of 0.71. The company has a fifty day moving average price of $53.64 and a two-hundred day moving average price of $51.96. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. Silgan has a 52-week low of $41.14 and a 52-week high of $58.14.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. As a group, equities analysts predict that Silgan will post 4.11 EPS for the current year.

Institutional Trading of Silgan

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its stake in Silgan by 7.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company's stock worth $290,000 after purchasing an additional 361 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Silgan by 5.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company's stock worth $390,000 after buying an additional 388 shares during the period. AQR Capital Management LLC increased its stake in shares of Silgan by 1.1% during the second quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company's stock worth $1,594,000 after buying an additional 421 shares during the period. Captrust Financial Advisors increased its stake in shares of Silgan by 5.7% during the third quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company's stock worth $441,000 after buying an additional 456 shares during the period. Finally, KBC Group NV increased its stake in shares of Silgan by 27.7% during the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company's stock worth $120,000 after buying an additional 494 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

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.