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

Silgan (NYSE:SLGN) had its price objective increased by equities research analysts at Royal Bank Of Canada from $47.00 to $48.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Royal Bank Of Canada‘s price objective suggests a potential upside of 18.72% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Citigroup lowered their price objective on shares of Silgan from $54.00 to $49.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Wells Fargo & Company restated an “overweight” rating and issued a $52.00 price objective (down from $56.00) on shares of Silgan in a report on Monday, October 19th. Truist Financial increased their price objective on Silgan from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday. Raymond James Financial reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Silgan in a report on Wednesday, July 15th. Finally, BMO Capital Markets assumed coverage on Silgan in a research note on Thursday, July 16th. They set an “outperform” rating and a $57.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.60.

Silgan Trading Up 2.4%

SLGN stock traded up $0.94 during midday trading on Friday, reaching $40.43. The stock had a trading volume of 243,369 shares, compared to its average volume of 1,048,889. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.21 and a beta of 0.67. The company has a quick ratio of 0.80, a current ratio of 1.27 and a debt-to-equity ratio of 1.54. Silgan has a twelve month low of $33.70 and a twelve month high of $49.55. The business has a fifty day simple moving average of $38.36 and a two-hundred day simple moving average of $41.39.

Silgan (NYSE:SLGN) last posted its earnings results on Thursday, October 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. Silgan had a return on equity of 16.74% and a net margin of 4.05%. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the company earned $1.22 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts expect that Silgan will post 3.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in Silgan by 33.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,243 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 309 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Silgan by 105.6% during the second quarter. Parkside Financial Bank & Trust now owns 627 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 322 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Silgan by 2.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 17,953 shares of the industrial products company’s stock valued at $697,000 after purchasing an additional 400 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Silgan by 1.9% in the 1st quarter. State of Michigan Retirement System now owns 21,100 shares of the industrial products company’s stock worth $819,000 after buying an additional 400 shares during the last quarter. Finally, Choreo LLC raised its stake in Silgan by 3.1% in the 3rd quarter. Choreo LLC now owns 19,970 shares of the industrial products company’s stock valued at $694,000 after acquiring an additional 605 shares during the period. 70.25% of the stock is owned by institutional investors.

More Silgan News

Here are the key news stories impacting Silgan this week:

• Positive Sentiment: Silgan reported third-quarter adjusted earnings of $1.31 per share, exceeding analysts’ expectations of approximately $1.25–$1.26 and rising from $1.22 a year earlier. The earnings beat supports the positive stock reaction. Silgan Holdings Tops Q3 Earnings Estimates
• Positive Sentiment: The company raised the midpoint of its full-year earnings outlook, signaling confidence in operating performance and providing a supportive catalyst for SLGN. Silgan Announces Third Quarter Results and Raises Earnings Estimate
• Positive Sentiment: Truist increased its price target to $46 from $45 while maintaining a Buy rating, suggesting the analyst sees additional upside based on Silgan’s earnings performance and outlook. Truist Raises Silgan Price Target
• Neutral Sentiment: Third-quarter revenue increased 1.5% year over year to $2.04 billion, but it fell short of the roughly $2.10 billion consensus estimate. The mixed result indicates that earnings benefits did not fully translate into top-line growth. Silgan Third Quarter Earnings Results

About Silgan

Silgan Holdings Inc (NYSE: SLGN) is a manufacturer of rigid packaging products used by consumer goods companies. The company produces metal containers, plastic containers and specialty closures for food, beverage, personal care, household, healthcare, industrial and other products.

Silgan’s metal packaging business supplies cans and containers for food, pet food, paint, chemicals, aerosols and other applications. Its plastic packaging operations manufacture bottles, tubs and other containers, while its closures business produces metal and plastic caps, lids and dispensing systems for a range of consumer and industrial products.

Founded in 1987, Silgan serves customers primarily across North America and Europe through a network of manufacturing facilities.