Silgan (NYSE:SLGN) Stock Gets Price Target Bump from Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Silgan’s price target to $48 from $47 and maintained an “outperform” rating, implying approximately 18.7% upside from the reported share price.
• Silgan’s analyst outlook remains favorable, with a consensus “Moderate Buy” rating and an average target of $50.60; Truist also lifted its target to $46 while maintaining a Buy rating.
• The company beat quarterly earnings expectations with $1.31 in EPS versus $1.25 expected, though revenue rose 1.5% to $2.04 billion and fell short of the $2.10 billion consensus estimate.

Silgan (NYSE:SLGN - Get Free Report) had its target price raised by Royal Bank Of Canada from $47.00 to $48.00 in a research note issued on Friday, Benzinga reports. The firm presently has an "outperform" rating on the industrial products company's stock. Royal Bank Of Canada's price target points to a potential upside of 18.72% from the company's current price.

A number of other research analysts have also weighed in on the company. 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. 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. UBS Group set a $38.00 price target on shares of Silgan and gave the stock a "neutral" rating in a report on Monday, October 5th. Raymond James Financial restated an "outperform" rating and set a $59.00 price target on shares of Silgan in a research note on Wednesday, July 15th. Finally, Bank of America upped their target price on shares of Silgan from $53.00 to $58.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Silgan presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.60.

Silgan Price Performance

Shares of Silgan stock traded up $0.94 during trading hours on Friday, hitting $40.43. The company's stock had a trading volume of 243,369 shares, compared to its average volume of 1,048,889. The company has a market cap of $4.27 billion, a PE ratio of 15.88, a PEG ratio of 2.21 and a beta of 0.67. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.80 and a current ratio of 1.27. The business has a 50 day moving average price of $38.36 and a two-hundred day moving average price of $41.39. Silgan has a 12-month low of $33.70 and a 12-month high of $49.55.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. Silgan had a net margin of 4.05% and a return on equity of 16.74%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the firm posted $1.22 EPS. The firm's revenue was up 1.5% compared to the same quarter last year. Analysts expect that Silgan will post 3.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SLGN. ARGA Investment Management LP boosted its position in shares of Silgan by 7.6% during the third quarter. ARGA Investment Management LP now owns 427,192 shares of the industrial products company's stock worth $14,845,000 after buying an additional 30,136 shares during the period. VCI Wealth Management LLC purchased a new stake in shares of Silgan in the third quarter valued at $1,375,000. State of Wyoming acquired a new stake in Silgan during the 3rd quarter worth about $121,000. Choreo LLC increased its position in Silgan by 3.1% in the 3rd quarter. Choreo LLC now owns 19,970 shares of the industrial products company's stock worth $694,000 after purchasing an additional 605 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its position in Silgan by 22.8% during the third quarter. Evergreen Capital Management LLC now owns 16,206 shares of the industrial products company's stock worth $563,000 after buying an additional 3,005 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Key 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

Silgan Company Profile

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.

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