Silgan (NYSE:SLGN) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Silgan (NYSE:SLGN - Free Report) had its target price increased by Robert W. Baird from $60.00 to $62.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the industrial products company's stock.

SLGN has been the topic of several other research reports. Bank of America upped their target price on shares of Silgan from $60.00 to $61.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Wells Fargo & Company upped their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday. Royal Bank of Canada upped their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Truist Financial reiterated a "buy" rating and issued a $70.00 target price (up previously from $69.00) on shares of Silgan in a research note on Thursday. Finally, Raymond James upped their target price on shares of Silgan from $62.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.22.

Silgan Trading Down 0.5 %

Shares of SLGN traded down $0.26 during trading hours on Thursday, reaching $54.76. 956,306 shares of the company traded hands, compared to its average volume of 681,193. The company's fifty day moving average price is $53.64 and its two-hundred day moving average price is $51.96. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 1.26 and a beta of 0.71. The company has a quick ratio of 0.28, a current ratio of 0.45 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.

Silgan (NYSE:SLGN - Get Free Report) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. Equities research analysts predict that Silgan will post 4.11 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.19 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.39%. Silgan's dividend payout ratio is currently 29.46%.

Institutional Trading of Silgan

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its holdings in Silgan by 7.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company's stock valued at $290,000 after buying an additional 361 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in Silgan by 5.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company's stock valued at $390,000 after buying an additional 388 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Silgan by 1.1% in the second quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company's stock worth $1,594,000 after purchasing an additional 421 shares during the period. Captrust Financial Advisors boosted its position in shares of Silgan by 5.7% in the third quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company's stock worth $441,000 after purchasing an additional 456 shares during the period. Finally, KBC Group NV boosted its position in shares of Silgan by 27.7% in the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company's stock worth $120,000 after purchasing an additional 494 shares during the period. 70.25% of the stock is owned by hedge funds and other 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.