Sonoco Products (NYSE:SON) Price Target Raised to $48.00

Sonoco Products (NYSE:SON) had its target price hoisted by UBS Group from $44.00 to $48.00 in a research report report published on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the industrial products company’s stock.

Other equities analysts have also recently issued reports about the stock. Citigroup dropped their price objective on shares of Sonoco Products from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, September 29th. Zacks Research upgraded Sonoco Products from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday, October 8th. Jefferies Financial Group cut their price objective on shares of Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $47.00 target price (down previously from $52.00) on shares of Sonoco Products in a report on Tuesday, January 6th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $54.86.

Sonoco Products Stock Performance

Shares of SON stock opened at $49.31 on Monday. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 0.73 and a beta of 0.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92. Sonoco Products has a one year low of $38.65 and a one year high of $50.09. The company’s 50-day moving average is $42.75 and its 200 day moving average is $44.00.

Sonoco Products (NYSE:SON) last announced its earnings results on Wednesday, October 22nd. The industrial products company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.18 billion. Sonoco Products had a net margin of 8.82% and a return on equity of 20.49%. The company’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 EPS. Sonoco Products has set its FY 2025 guidance at 5.650-5.75 EPS. Sell-side analysts expect that Sonoco Products will post 6.1 EPS for the current fiscal year.

Insider Activity

In other news, CFO Paul Joachimczyk purchased 20,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were bought at an average price of $39.50 per share, for a total transaction of $809,750.00. Following the completion of the transaction, the chief financial officer owned 20,500 shares in the company, valued at $809,750. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John R. Haley acquired 2,506 shares of the firm’s stock in a transaction on Tuesday, October 28th. The shares were bought at an average cost of $39.87 per share, for a total transaction of $99,914.22. Following the completion of the acquisition, the director owned 23,310 shares of the company’s stock, valued at approximately $929,369.70. This represents a 12.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.74% of the company’s stock.

Institutional Trading of Sonoco Products

Several institutional investors have recently modified their holdings of the stock. ST Germain D J Co. Inc. purchased a new stake in Sonoco Products during the second quarter worth approximately $26,000. Cornerstone Planning Group LLC acquired a new position in shares of Sonoco Products during the 3rd quarter valued at $29,000. TD Waterhouse Canada Inc. purchased a new stake in Sonoco Products during the 2nd quarter worth $30,000. True Wealth Design LLC increased its holdings in Sonoco Products by 172.5% in the 3rd quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 471 shares in the last quarter. Finally, Ameriflex Group Inc. raised its position in Sonoco Products by 1,263.6% in the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 834 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

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.