Silgan (NYSE:SLGN) Given New $65.00 Price Target at Royal Bank of Canada

Silgan (NYSE:SLGN) had its price objective hoisted by research analysts at Royal Bank of Canada from $63.00 to $65.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 17.97% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird increased their price target on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday. Wells Fargo & Company increased their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday. Raymond James increased their price target on shares of Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, Bank of America raised their target price on shares of Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.22.

Silgan Trading Down 1.9 %

Shares of Silgan stock opened at $55.10 on Thursday. Silgan has a 52-week low of $41.14 and a 52-week high of $58.14. The stock’s 50-day simple moving average is $53.64 and its 200 day simple moving average is $51.87. The stock has a market capitalization of $5.88 billion, a P/E ratio of 21.36, a P/E/G ratio of 1.34 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 19.77% and a net margin of 4.72%. As a group, research analysts anticipate that Silgan will post 4.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SLGN. Bank of Jackson Hole Trust bought a new position in shares of Silgan in the fourth quarter worth approximately $59,000. Venturi Wealth Management LLC grew its holdings in shares of Silgan by 153.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 2,145 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Silgan by 7.4% in the fourth quarter. Sanctuary Advisors LLC now owns 7,715 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 533 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Silgan by 0.8% in the fourth quarter. Rhumbline Advisers now owns 295,709 shares of the industrial products company’s stock worth $15,392,000 after purchasing an additional 2,463 shares during the last quarter. Finally, Legato Capital Management LLC grew its holdings in shares of Silgan by 37.2% in the fourth quarter. Legato Capital Management LLC now owns 38,413 shares of the industrial products company’s stock worth $1,999,000 after purchasing an additional 10,420 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.

About Silgan

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.