Silgan (NYSE:SLGN – Get Free Report) had its target price reduced by equities researchers at Citigroup from $54.00 to $49.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target indicates a potential upside of 39.24% from the company’s current price.
Other equities analysts have also recently issued research reports about the company. BMO Capital Markets began coverage on Silgan in a report on Thursday, July 16th. They issued an “outperform” rating and a $57.00 target price for the company. Weiss Ratings upgraded Silgan from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 15th. Royal Bank Of Canada raised Silgan from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $51.00 to $58.00 in a research note on Thursday, August 13th. Raymond James Financial reiterated an “outperform” rating and issued a $59.00 price objective on shares of Silgan in a report on Wednesday, July 15th. Finally, Bank of America boosted their target price on shares of Silgan from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Silgan currently has an average rating of “Moderate Buy” and a consensus price target of $53.50.
Read Our Latest Stock Report on Silgan
Silgan Price Performance
Silgan (NYSE:SLGN – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. Silgan had a net margin of 4.05% and a return on equity of 16.74%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Silgan has set its FY 2026 guidance at 3.730-3.930 EPS and its Q3 2026 guidance at 1.210-1.310 EPS. On average, equities research analysts predict that Silgan will post 3.82 earnings per share for the current year.
Institutional Investors Weigh In On Silgan
Institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in Silgan during the second quarter worth $369,406,000. Dimensional Fund Advisors LP boosted its position in Silgan by 11.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,893,768 shares of the industrial products company’s stock valued at $189,871,000 after acquiring an additional 505,813 shares during the last quarter. Bank of America Corp DE acquired a new stake in Silgan during the 2nd quarter worth about $101,368,000. Geode Capital Management LLC grew its holdings in Silgan by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,744,745 shares of the industrial products company’s stock worth $70,449,000 after acquiring an additional 31,405 shares during the period. Finally, Jupiter Topco LLC bought a new position in shares of Silgan in the 2nd quarter worth about $62,526,000. 70.25% of the stock is owned by institutional investors.
About Silgan
Silgan Holdings Inc (NYSE: SLGN) is a manufacturer of rigid packaging for consumer goods. The company produces metal containers, plastic containers, closures and dispensing systems used to package food, pet food, beverages, household products, personal-care items, chemicals, paints and other products.
Silgan’s business is organized around metal containers, closures and dispensing systems. Its products include steel cans, plastic containers, caps, lids, pumps, sprayers and other dispensing components.
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