Sonoco Products Co. Sets New 1-Year High at $42.09 (SON)
Sonoco Products (NYSE:SON) set a new 52-week high on Tuesday, American Banking News.com reports. The company traded as high as $42.09 and last traded at $41.81, with a volume of 746,123 shares. The stock had previously closed at $40.97.
A number of research firms have recently commented on SON. Analysts at Bank of America Corp. downgraded shares of Sonoco Products from a “buy” rating to a “neutral” rating in a research note to investors on Friday. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Sonoco Products in a research note to investors on Thursday, December 12th. They now have a $38.00 price target on the stock, up previously from $36.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Sonoco Products in a research note to investors on Friday, November 29th. They now have a $42.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $37.38.
In other Sonoco Products news, Director John Linville sold 5,000 shares of Sonoco Products stock on the open market in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $41.21, for a total transaction of $206,050.00. Following the transaction, the director now directly owns 233,787 shares of the company’s stock, valued at approximately $9,634,362. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Sonoco Products has a 1-year low of $29.75 and a 1-year high of $41.84. The stock has a 50-day moving average of $40.70 and a 200-day moving average of $38.95. The company has a market cap of $4.238 billion and a price-to-earnings ratio of 20.38.
Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, October 17th. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.61 by $0.02. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Sonoco Products will post $2.30 earnings per share for the current fiscal year.
Sonoco Products Company (NYSE:SON) is a manufacturer of industrial and consumer packaging products and a provider of packaging services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.