Sonoco Products (NYSE:SON) Receives Average Recommendation of “Moderate Buy” from Brokerages

Sonoco Products (NYSE:SON) has been assigned an average rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $60.17.

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

Sonoco Products Stock Performance

Shares of NYSE:SON opened at $47.72 on Friday. The business’s 50-day simple moving average is $49.85 and its 200 day simple moving average is $51.59. The company has a market cap of $4.69 billion, a P/E ratio of 16.40, a PEG ratio of 0.72 and a beta of 0.68. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. Sonoco Products has a one year low of $45.93 and a one year high of $61.73.

Sonoco Products (NYSE:SON) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The business’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 company posted $1.46 earnings per share. On average, sell-side analysts forecast that Sonoco Products will post 5.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total value of $191,800.00. Following the completion of the transaction, the director now directly owns 16,065 shares of the company’s stock, valued at $770,316.75. This represents a 19.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Kennebec Savings Bank acquired 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 Sonoco Products in the 3rd quarter valued at about $33,000. Abich Financial Wealth Management LLC acquired a new position in Sonoco Products during the 2nd quarter valued at about $50,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Sonoco Products during the 3rd quarter worth about $71,000. Finally, Albion Financial Group UT acquired a new stake in shares of Sonoco Products in the 4th quarter worth approximately $84,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

About Sonoco Products

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.