Brokerages Set Sonoco Products (NYSE:SON) Target Price at $60.17

Shares of Sonoco Products (NYSE:SON) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $60.17.

A number of research analysts recently commented on SON shares. Truist Financial upped their price target on shares of Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Bank of America increased their target price on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Robert W. Baird decreased their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Citigroup decreased their target price on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company decreased their target price on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th.

Insider Activity at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total transaction of $191,800.00. Following the completion of the transaction, the director now owns 16,065 shares of the company’s stock, valued at approximately $770,316.75. This trade represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.51% of the stock is owned by insiders.

Hedge Funds Weigh In On Sonoco Products

Large investors have recently modified their holdings of the business. Kennebec Savings Bank bought a new position in shares of Sonoco Products during the third quarter valued at $27,000. Capital Performance Advisors LLP bought a new position in shares of Sonoco Products during the third quarter valued at $33,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Sonoco Products during the second quarter worth $50,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sonoco Products during the third quarter worth $71,000. Finally, Albion Financial Group UT acquired a new stake in shares of Sonoco Products during the fourth quarter worth $84,000. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Trading Down 1.4 %

Shares of NYSE:SON opened at $48.51 on Friday. The company’s 50-day moving average price is $49.66 and its two-hundred day moving average price is $51.57. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. Sonoco Products has a one year low of $45.93 and a one year high of $61.73. The stock has a market capitalization of $4.77 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 0.74 and a beta of 0.68.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. Sonoco Products’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 EPS. On average, equities analysts forecast that Sonoco Products will post 5.12 EPS for the current fiscal year.

Sonoco Products Company Profile

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.