Sonoco Products Company (NYSE:SON)‘s stock had its “buy” rating reaffirmed by equities researchers at Robert W. Baird in a research note issued to investors on Friday. They currently have a $60.00 price objective on the industrial products company’s stock. Robert W. Baird’s target price would suggest a potential upside of 24.33% from the stock’s current price.

A number of other brokerages have also weighed in on SON. Vertical Research lowered shares of Sonoco Products from a “hold” rating to a “sell” rating in a report on Friday, July 21st. BidaskClub raised shares of Sonoco Products from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Zacks Investment Research raised shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “neutral” rating on shares of Sonoco Products in a research note on Wednesday, June 28th. Finally, Bank of America Corporation raised their price objective on shares of Sonoco Products from $55.00 to $56.00 and gave the company an “underperform” rating in a research note on Friday, July 21st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $52.57.

Sonoco Products (SON) opened at 48.26 on Friday. Sonoco Products has a 12 month low of $47.10 and a 12 month high of $55.58. The firm has a market capitalization of $4.80 billion, a P/E ratio of 18.32 and a beta of 1.12. The stock’s 50 day moving average price is $49.08 and its 200 day moving average price is $51.32.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.71 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.71. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Sonoco Products had a net margin of 5.61% and a return on equity of 16.64%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.73 earnings per share. On average, analysts forecast that Sonoco Products will post $2.75 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the company. Verition Fund Management LLC increased its stake in shares of Sonoco Products by 238.3% in the second quarter. Verition Fund Management LLC now owns 10,373 shares of the industrial products company’s stock valued at $533,000 after buying an additional 17,873 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Sonoco Products by 1.2% in the second quarter. Ameritas Investment Partners Inc. now owns 39,341 shares of the industrial products company’s stock valued at $2,022,000 after buying an additional 485 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Sonoco Products by 3.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,568 shares of the industrial products company’s stock valued at $492,000 after buying an additional 338 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Sonoco Products by 284.7% in the second quarter. Coldstream Capital Management Inc. now owns 15,675 shares of the industrial products company’s stock valued at $806,000 after buying an additional 11,600 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Sonoco Products by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 146,067 shares of the industrial products company’s stock valued at $7,511,000 after buying an additional 2,626 shares during the last quarter. 72.57% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Company Profile

Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.

Analyst Recommendations for Sonoco Products (NYSE:SON)

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