Robert W. Baird Issues Positive Forecast for Silgan (NYSE:SLGN) Stock Price

Silgan (NYSE:SLGN) had its price target boosted by stock analysts at Robert W. Baird from $60.00 to $62.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s target price points to a potential upside of 10.93% from the stock’s previous close.

Several other research firms have also recently commented on SLGN. Royal Bank of Canada boosted their price target on shares of Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. increased their price objective on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday. Truist Financial restated a “buy” rating and set a $70.00 price target (up previously from $69.00) on shares of Silgan in a research note on Thursday. Raymond James raised their target price on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Silgan currently has an average rating of “Moderate Buy” and an average target price of $62.63.

Silgan Price Performance

NYSE:SLGN traded up $0.11 during trading hours on Thursday, reaching $55.89. 294,161 shares of the company’s stock were exchanged, compared to its average volume of 530,421. The company has a market capitalization of $5.97 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 1.26 and a beta of 0.71. Silgan has a 12 month low of $41.14 and a 12 month high of $58.14. The business’s 50-day simple moving average is $53.66 and its two-hundred day simple moving average is $51.77. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 18.76% and a net margin of 5.11%. Sell-side analysts expect that Silgan will post 3.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Silgan

Several hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC lifted its holdings in shares of Silgan by 220.4% during the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after buying an additional 963 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Silgan by 51.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock worth $93,000 after acquiring an additional 606 shares in the last quarter. KBC Group NV grew its position in Silgan by 27.7% in the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 494 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Silgan by 13,482.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,124 shares of the industrial products company’s stock valued at $132,000 after buying an additional 3,101 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Silgan in the third quarter worth $154,000. Institutional investors own 70.25% of the company’s stock.

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.