Robert W. Baird Forecasts Strong Price Appreciation for Silgan (NYSE:SLGN) Stock

Silgan (NYSE:SLGN) had its target price hoisted by equities researchers at Robert W. Baird from $60.00 to $62.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price target would indicate a potential upside of 10.93% from the company’s previous close.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. boosted their target price on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada raised their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Raymond James upped their price objective on shares of Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company upped their price objective on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.63.

Silgan Trading Up 0.2 %

Shares of NYSE:SLGN traded up $0.11 during mid-day trading on Thursday, hitting $55.89. The company had a trading volume of 294,161 shares, compared to its average volume of 530,421. The company has a market capitalization of $5.97 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.26 and a beta of 0.71. Silgan has a one year low of $41.14 and a one year high of $58.14. The firm has a fifty day moving average price of $53.66 and a 200 day moving average price of $51.77. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 5.11% and a return on equity of 18.76%. As a group, research analysts forecast that Silgan will post 3.6 EPS for the current year.

Institutional Trading of Silgan

Hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Silgan by 87.7% in the third quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock worth $329,619,000 after purchasing an additional 2,932,680 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Silgan by 1.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock worth $137,047,000 after purchasing an additional 29,565 shares during the last quarter. State Street Corp lifted its holdings in Silgan by 0.6% during the 3rd quarter. State Street Corp now owns 2,497,683 shares of the industrial products company’s stock valued at $131,128,000 after buying an additional 14,109 shares in the last quarter. Geode Capital Management LLC boosted its position in Silgan by 11.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock valued at $78,509,000 after buying an additional 157,160 shares during the period. Finally, Segall Bryant & Hamill LLC increased its position in shares of Silgan by 0.9% during the third quarter. Segall Bryant & Hamill LLC now owns 1,278,560 shares of the industrial products company’s stock worth $67,124,000 after acquiring an additional 11,655 shares during the period. 70.25% of the stock is 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.