Analysts Set Sonoco Products Company (NYSE:SON) PT at $54.86

Shares of Sonoco Products Company (NYSE:SON) have received a consensus recommendation of “Hold” from the nine ratings firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $54.8571.

A number of equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Truist Financial boosted their target price on shares of Sonoco Products from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 target price (down previously from $52.00) on shares of Sonoco Products in a research report on Tuesday, January 6th. Raymond James Financial set a $60.00 price target on Sonoco Products in a research report on Monday, January 5th. Finally, UBS Group raised their price objective on Sonoco Products from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th.

Institutional Trading of Sonoco Products

A number of institutional investors have recently added to or reduced their stakes in the business. Allen Wealth Management LLC acquired a new position in shares of Sonoco Products in the 3rd quarter valued at $1,489,000. Voya Investment Management LLC increased its holdings in shares of Sonoco Products by 329.3% in the third quarter. Voya Investment Management LLC now owns 50,390 shares of the industrial products company’s stock valued at $2,171,000 after purchasing an additional 38,653 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Sonoco Products in the third quarter valued at about $560,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of Sonoco Products in the third quarter worth about $1,185,000. Finally, ARGA Investment Management LP acquired a new stake in shares of Sonoco Products during the third quarter worth about $2,116,000. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Price Performance

Shares of NYSE SON opened at $47.94 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 0.75 and a beta of 0.54. Sonoco Products has a twelve month low of $38.65 and a twelve month high of $50.09. The business has a 50 day simple moving average of $44.64 and a 200-day simple moving average of $44.18.

Sonoco Products Company Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.