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

Silgan (NYSE:SLGN) had its target price hoisted by Robert W. Baird from $60.00 to $62.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price objective points to a potential upside of 12.53% from the stock’s current price.

Several other research firms have also issued reports on SLGN. Royal Bank of Canada increased their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Truist Financial reiterated a “buy” rating and issued a $70.00 price target (up previously from $69.00) on shares of Silgan in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday. Raymond James lifted their target price on Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price target on shares of Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Silgan has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Silgan Stock Performance

Shares of NYSE SLGN opened at $55.10 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. Silgan has a 12 month low of $41.14 and a 12 month high of $58.14. The stock has a 50 day moving average of $53.64 and a 200-day moving average of $51.87. The company 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.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate 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, equities research analysts predict that Silgan will post 4.09 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in shares of 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 grew its holdings in shares of 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 grew its holdings in shares of Silgan by 0.6% in the third quarter. State Street Corp now owns 2,497,683 shares of the industrial products company’s stock worth $131,128,000 after purchasing an additional 14,109 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Silgan by 11.7% in the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock worth $78,509,000 after purchasing an additional 157,160 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of Silgan by 0.9% in 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 purchasing an additional 11,655 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.

Silgan Company Profile

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.