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

Sonoco Products (NYSE:SON - Get Free Report) had its price target cut by research analysts at Robert W. Baird from $58.00 to $55.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the industrial products company's stock. Robert W. Baird's price target would suggest a potential upside of 8.78% from the stock's previous close.

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

Sonoco Products Price Performance

Shares of NYSE SON traded down $0.58 during mid-day trading on Monday, hitting $50.56. 768,653 shares of the stock traded hands, compared to its average volume of 616,830. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. The company has a market cap of $4.97 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 2.20 and a beta of 0.69. Sonoco Products has a twelve month low of $48.22 and a twelve month high of $61.73. The firm has a 50 day simple moving average of $54.03 and a two-hundred day simple moving average of $54.55.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 20.03%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business earned $1.46 EPS. The firm's quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts forecast that Sonoco Products will post 5 EPS for the current fiscal year.

Hedge Funds Weigh In On Sonoco Products

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Sonoco Products during the 1st quarter valued at $50,000. BNP Paribas Financial Markets boosted its position in shares of Sonoco Products by 6.6% during the 1st quarter. BNP Paribas Financial Markets now owns 83,067 shares of the industrial products company's stock worth $4,805,000 after purchasing an additional 5,123 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Sonoco Products by 26.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,152 shares of the industrial products company's stock valued at $992,000 after buying an additional 3,559 shares during the period. Capstone Investment Advisors LLC increased its position in Sonoco Products by 11.8% in the 1st quarter. Capstone Investment Advisors LLC now owns 11,167 shares of the industrial products company's stock valued at $646,000 after buying an additional 1,176 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in Sonoco Products by 15.1% during the 1st quarter. GSA Capital Partners LLP now owns 12,905 shares of the industrial products company's stock worth $746,000 after buying an additional 1,692 shares during the period. 77.69% of the stock is currently owned by institutional investors.

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.