Royal Bank of Canada Raises Silgan (NYSE:SLGN) Price Target to $63.00

Silgan (NYSE:SLGN) had its target price boosted by Royal Bank of Canada from $58.00 to $63.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

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

Silgan Price Performance

Shares of SLGN opened at $52.18 on Thursday. The firm has a market capitalization of $5.57 billion, a PE ratio of 18.91, a PEG 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. The company’s 50-day moving average is $53.90 and its 200-day moving average is $50.07. Silgan has a fifty-two week low of $41.14 and a fifty-two week high of $58.14.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the business earned $1.16 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. Equities analysts forecast that Silgan will post 3.6 EPS for the current year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.19 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.46%. Silgan’s dividend payout ratio (DPR) is presently 27.54%.

Institutional Trading of Silgan

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in Silgan by 256.6% in the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 426 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Silgan by 220.4% in 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 period. Headlands Technologies LLC acquired a new position in shares of Silgan in the 2nd quarter valued at approximately $70,000. GAMMA Investing LLC lifted its holdings in shares of Silgan by 51.8% during the 3rd 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 period. Finally, KBC Group NV boosted its position in shares of Silgan by 27.7% during the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 494 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

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.