Robert W. Baird Lowers Sonoco Products (NYSE:SON) Price Target to $55.00

Sonoco Products (NYSE:SON) had its price target lowered by stock analysts at Robert W. Baird from $58.00 to $55.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s target price suggests a potential upside of 9.45% from the stock’s previous close.

Several other brokerages also recently weighed in on SON. Citigroup upped their price objective on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Raymond James initiated coverage on shares of Sonoco Products in a report on Friday, July 19th. They issued an “outperform” rating and a $62.00 target price for the company. Finally, Wells Fargo & Company lowered shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $54.00 to $52.00 in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $58.00.

Sonoco Products Stock Performance

SON opened at $50.25 on Monday. The firm has a market cap of $4.94 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 2.11 and a beta of 0.69. The business’s fifty day moving average is $53.98 and its 200-day moving average is $54.51. Sonoco Products has a 52-week low of $48.22 and a 52-week high of $61.73. 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 (NYSE:SON) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 EPS. Sell-side analysts expect that Sonoco Products will post 5.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in 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 Sonoco Products during the 3rd quarter worth $33,000. Allspring Global Investments Holdings LLC acquired a new position in Sonoco Products during the 1st quarter worth about $50,000. Abich Financial Wealth Management LLC bought a new stake in shares of Sonoco Products in the 2nd quarter valued at about $50,000. Finally, Gradient Investments LLC acquired a new stake in shares of Sonoco Products in the second quarter valued at about $58,000. 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.