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

Sonoco Products (NYSE:SON) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $60.17.

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

Sonoco Products Trading Down 1.4 %

SON opened at $48.51 on Friday. Sonoco Products has a twelve month low of $45.93 and a twelve month high of $61.73. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. The company has a fifty day moving average of $49.66 and a 200-day moving average of $51.57. The stock has a market cap 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 posted its quarterly 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 during 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 quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the company posted $1.46 earnings per share. On average, sell-side analysts predict that Sonoco Products will post 5.12 EPS for the current year.

Insiders Place Their Bets

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of Sonoco Products stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total value of $191,800.00. Following the sale, the director now owns 16,065 shares of the company’s stock, valued at approximately $770,316.75. The trade was a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.51% of the company’s stock.

Institutional Trading of Sonoco Products

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its stake in shares of Sonoco Products by 80.8% in the second quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock worth $28,179,000 after purchasing an additional 248,236 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Sonoco Products by 312.1% in the third quarter. Jane Street Group LLC now owns 185,351 shares of the industrial products company’s stock worth $10,126,000 after purchasing an additional 140,370 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Sonoco Products in the second quarter worth about $2,419,000. Nordea Investment Management AB increased its stake in shares of Sonoco Products by 63.2% in the fourth quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company’s stock worth $55,181,000 after purchasing an additional 437,128 shares in the last quarter. Finally, Versor Investments LP purchased a new position in shares of Sonoco Products in the third quarter worth about $970,000. Institutional investors own 77.69% of the company’s stock.

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.