Sonoco Products Co. Reaches New 12-Month High at $39.70 (SON)
Sonoco Products (NYSE:SON)’s share price reached a new 52-week high during mid-day trading on Thursday, American Banking News reports. The stock traded as high as $39.70 and last traded at $39.66, with a volume of 254,239 shares traded. The stock had previously closed at $38.80.
A number of analysts have recently weighed in on SON shares. Analysts at Zacks reiterated a “neutral” rating on shares of Sonoco Products (NYSE:SON) in a research note to investors on Friday, September 13th. They now have a $40.00 price target on the stock. Separately, analysts at Barclays Capital raised their price target on shares of Sonoco Products (NYSE:SON) from $32.00 to $36.00 in a research note to investors on Tuesday, July 23rd. They now have an “equal weight” rating on the stock. Finally, analysts at Merrill Lynch upgraded shares of Sonoco Products (NYSE:SON) from a “neutral” rating to a “buy” rating in a research note to investors on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $36.75.
Sonoco Products has a 1-year low of $29.00 and a 1-year high of $39.80. The stock’s 50-day moving average is $38.51 and its 200-day moving average is $36.17. The company has a market cap of $3.997 billion and a price-to-earnings ratio of 19.50.
Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, July 18th. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.58 by $0.01. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis.
Sonoco Products Company (NYSE:SON) is a manufacturer of industrial and consumer packaging products and a provider of packaging services.
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