Silgan (NASDAQ:SLGN) Given “Maintains” Rating at Royal Bank of Canada

Silgan (NASDAQ:SLGNGet Rating)‘s stock had its “maintains” rating reissued by research analysts at Royal Bank of Canada in a research report issued on Thursday, Benzinga reports.

Several other research firms also recently weighed in on SLGN. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a report on Friday, April 29th. Raymond James reiterated a “maintains” rating on shares of Silgan in a research report on Thursday. Finally, Citigroup lifted their target price on Silgan from $45.00 to $50.00 in a report on Friday, April 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $49.89.

Silgan Stock Up 0.2 %

NASDAQ:SLGN traded up $0.07 during mid-day trading on Thursday, hitting $44.00. 8,374 shares of the company’s stock traded hands, compared to its average volume of 518,520. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.74 and a current ratio of 1.33. Silgan has a twelve month low of $37.10 and a twelve month high of $46.98. The company has a fifty day moving average of $42.00 and a 200 day moving average of $43.29. The company has a market capitalization of $4.88 billion, a P/E ratio of 13.20, a P/E/G ratio of 2.10 and a beta of 0.76.

Silgan (NASDAQ:SLGNGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.96 by $0.12. Silgan had a net margin of 6.30% and a return on equity of 25.33%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, analysts forecast that Silgan will post 3.94 EPS for the current year.

Institutional Trading of Silgan

A number of hedge funds and other institutional investors have recently bought and sold shares of SLGN. Charles Schwab Investment Management Inc. boosted its holdings in shares of Silgan by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 714,549 shares of the industrial products company’s stock valued at $30,612,000 after acquiring an additional 23,572 shares during the last quarter. Yousif Capital Management LLC acquired a new position in Silgan in the fourth quarter valued at $1,884,000. Commerce Bank boosted its stake in shares of Silgan by 4.5% during the fourth quarter. Commerce Bank now owns 9,467 shares of the industrial products company’s stock worth $406,000 after buying an additional 411 shares during the period. Advisor Partners LLC acquired a new stake in Silgan in the first quarter valued at about $263,000. Finally, Nordea Investment Management AB increased its holdings in Silgan by 0.5% in the first quarter. Nordea Investment Management AB now owns 164,143 shares of the industrial products company’s stock valued at $7,644,000 after buying an additional 896 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About Silgan

(Get Rating)

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products in North America, Europe, and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

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