Sonoco Products (NYSE:SON) Hits New 52-Week Low - What's Next?

Sonoco Products (NYSE:SON - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $45.93 and last traded at $46.62, with a volume of 736783 shares trading hands. The stock had previously closed at $45.93.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SON shares. Truist Financial raised their price target on Sonoco Products from $63.00 to $68.00 and gave the company a "buy" rating in a report on Monday, January 6th. Robert W. Baird cut 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. Bank of America increased their price target on shares of Sonoco Products from $66.00 to $71.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Wells Fargo & Company reduced their target price on shares of Sonoco Products from $52.00 to $50.00 and set an "underweight" rating on the stock in a report on Monday, January 6th. Finally, Citigroup reduced their price target on Sonoco Products from $59.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Sonoco Products has an average rating of "Moderate Buy" and an average price target of $60.17.

Sonoco Products Stock Performance

The company's 50-day moving average price is $50.07 and its 200 day moving average price is $51.67. The stock has a market capitalization of $4.61 billion, a PE ratio of 16.11, a PEG ratio of 2.14 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 (NYSE:SON - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The business's revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 EPS. On average, equities research analysts expect that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Insider Activity at Sonoco Products

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the company's 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 transaction, the director now owns 16,065 shares in the company, valued at $770,316.75. The trade was a 19.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Sonoco Products

Institutional investors and hedge funds have recently bought and sold shares of the company. Park Avenue Securities LLC raised its stake in shares of Sonoco Products by 2.2% in the fourth quarter. Park Avenue Securities LLC now owns 14,084 shares of the industrial products company's stock worth $688,000 after purchasing an additional 298 shares during the last quarter. Code Waechter LLC increased its holdings in Sonoco Products by 16.8% in the 4th quarter. Code Waechter LLC now owns 9,415 shares of the industrial products company's stock worth $460,000 after acquiring an additional 1,354 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in Sonoco Products by 6.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company's stock worth $230,000 after acquiring an additional 284 shares during the period. Elevated Capital Advisors LLC boosted its position in shares of Sonoco Products by 9.1% in the fourth quarter. Elevated Capital Advisors LLC now owns 11,806 shares of the industrial products company's stock worth $577,000 after purchasing an additional 985 shares during the period. Finally, Wedmont Private Capital boosted its holdings in Sonoco Products by 3.9% in the 4th quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company's stock worth $306,000 after buying an additional 247 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.