Sonoco Products Co (NYSE:SON) had its target price raised by investment analysts at Bank of America Corporation from $55.00 to $56.00 in a research note issued to investors on Friday. The brokerage presently has an “underperform” rating on the industrial products company’s stock. Bank of America Corporation’s price objective points to a potential upside of 13.27% from the stock’s current price.

SON has been the subject of a number of other research reports. Barclays PLC reaffirmed an “overweight” rating on shares of Sonoco Products in a report on Friday, April 14th. Jefferies Group LLC reaffirmed a “neutral” rating on shares of Sonoco Products in a report on Wednesday, June 28th. Zacks Investment Research raised Sonoco Products from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, June 22nd. Robert W. Baird raised Sonoco Products from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $55.00 to $60.00 in a report on Wednesday. Finally, Vertical Research downgraded Sonoco Products from a “hold” rating to a “sell” rating in a report on Friday. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Sonoco Products has an average rating of “Hold” and a consensus price target of $50.88.

Sonoco Products (SON) traded down 4.48% during midday trading on Friday, hitting $49.44. 1,546,808 shares of the stock traded hands. The stock has a market cap of $4.91 billion, a PE ratio of 17.97 and a beta of 1.14. Sonoco Products has a 12 month low of $48.86 and a 12 month high of $55.58. The company has a 50-day moving average of $51.29 and a 200-day moving average of $52.53.

Sonoco Products (NYSE:SON) last released its earnings results on Thursday, July 20th. The industrial products company reported $0.71 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.71. Sonoco Products had a return on equity of 10.59% and a net margin of 3.29%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that Sonoco Products will post $2.77 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in SON. Financial Engines Advisors L.L.C. boosted its position in shares of Sonoco Products by 0.4% in the first quarter. Financial Engines Advisors L.L.C. now owns 11,448 shares of the industrial products company’s stock valued at $606,000 after buying an additional 40 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of Sonoco Products by 1.0% in the first quarter. Global X Management Co. LLC now owns 4,954 shares of the industrial products company’s stock valued at $262,000 after buying an additional 50 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Sonoco Products by 0.7% in the second quarter. Bank of Montreal Can now owns 12,995 shares of the industrial products company’s stock valued at $669,000 after buying an additional 88 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Sonoco Products by 1.6% in the first quarter. Meeder Asset Management Inc. now owns 9,127 shares of the industrial products company’s stock valued at $483,000 after buying an additional 144 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its position in shares of Sonoco Products by 3.8% in the first quarter. Wesbanco Bank Inc. now owns 5,671 shares of the industrial products company’s stock valued at $300,000 after buying an additional 208 shares in the last quarter. Institutional investors own 74.12% of the company’s stock.

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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