Silgan (NYSE:SLGN – Get Free Report) had its target price hoisted by research analysts at Citigroup from $49.00 to $50.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Citigroup‘s target price would suggest a potential upside of 17.92% from the stock’s current price.
Several other brokerages also recently weighed in on SLGN. Bank of America increased their price target on shares of Silgan from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. UBS Group set a $38.00 price target on Silgan and gave the stock a “neutral” rating in a report on Monday, October 5th. Royal Bank Of Canada lifted their target price on shares of Silgan from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday. BMO Capital Markets started coverage on Silgan in a research report on Thursday, July 16th. They set an “outperform” rating and a $57.00 price target for the company. Finally, Wells Fargo & Company reiterated 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.70.
View Our Latest Analysis on Silgan
Silgan Stock Up 4.7%
NYSE:SLGN traded up $1.89 during mid-day trading on Monday, hitting $42.40. 469,997 shares of the company’s stock traded hands, compared to its average volume of 1,049,997. The company has a market capitalization of $4.48 billion, a P/E ratio of 17.05, a P/E/G ratio of 2.31 and a beta of 0.64. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.37 and a current ratio of 0.52. The company has a fifty day moving average of $38.35 and a 200 day moving average of $41.38. Silgan has a twelve month low of $33.70 and a twelve month high of $49.55.
Silgan (NYSE:SLGN – Get Free Report) last released its earnings results on Thursday, October 29th. The industrial products company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Silgan had a net margin of 3.90% and a return on equity of 16.73%. Silgan’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the business earned $1.22 EPS. On average, analysts forecast that Silgan will post 3.89 EPS for the current year.
Institutional Investors Weigh In On Silgan
Hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its holdings 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 worth $43,000 after buying an additional 309 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Silgan by 105.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 627 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 322 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in 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 during the period. State of Michigan Retirement System increased its stake in Silgan by 1.9% in the first quarter. State of Michigan Retirement System now owns 21,100 shares of the industrial products company’s stock valued at $819,000 after purchasing an additional 400 shares during the period. Finally, Choreo LLC raised its holdings in shares of Silgan by 3.1% in the third quarter. Choreo LLC now owns 19,970 shares of the industrial products company’s stock valued at $694,000 after buying an additional 605 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.
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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