Sonoco Products (NYSE:SON - Get Free Report) had its target price upped by equities research analysts at Bank of America from $66.00 to $71.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the industrial products company's stock. Bank of America's price objective suggests a potential upside of 50.36% from the stock's current price.
Several other equities analysts have also weighed in on SON. Robert W. Baird reduced their price objective on Sonoco Products from $58.00 to $55.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Wells Fargo & Company decreased 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. Truist Financial upped their price objective on shares of Sonoco Products from $63.00 to $68.00 and gave the company a "buy" rating in a report on Monday. Finally, Citigroup boosted their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.17.
Check Out Our Latest Stock Analysis on Sonoco Products
Sonoco Products Stock Performance
SON stock traded down $0.73 during midday trading on Monday, hitting $47.22. The company's stock had a trading volume of 1,153,325 shares, compared to its average volume of 850,775. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 2.14 and a beta of 0.68. 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 stock's 50-day moving average price is $50.56 and its 200 day moving average price is $51.88. Sonoco Products has a 1 year low of $47.18 and a 1 year high of $61.73.
Sonoco Products (NYSE:SON - Get Free Report) 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 for 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 period in the previous year, the firm earned $1.46 EPS. On average, equities analysts forecast that Sonoco Products will post 5.09 EPS for the current year.
Institutional Investors Weigh In On Sonoco Products
Institutional investors and hedge funds have recently made changes to their positions in the business. Kennebec Savings Bank bought a new position in Sonoco Products in the 3rd quarter worth about $27,000. Capital Performance Advisors LLP bought a new position in shares of Sonoco Products in the third quarter worth approximately $33,000. Abich Financial Wealth Management LLC purchased a new stake in Sonoco Products in the second quarter valued at approximately $50,000. Wilmington Savings Fund Society FSB purchased a new stake in Sonoco Products in the third quarter valued at approximately $71,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Sonoco Products by 821.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company's stock worth $95,000 after buying an additional 1,675 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.
About Sonoco Products
(
Get Free Report)
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.
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