Sonoco Products (NYSE:SON) was downgraded by stock analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Friday, The Fly reports.
Several other brokerages have also issued reports on SON. Wells Fargo & Co set a $58.00 price target on shares of Sonoco Products and gave the stock a “hold” rating in a research note on Monday, April 22nd. Argus upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Wednesday, April 24th. Goldman Sachs Group lowered shares of Metcash from a “conviction-buy” rating to a “neutral” rating in a research note on Monday, June 24th. KeyCorp reiterated a “hold” rating on shares of Sonoco Products in a research note on Sunday, April 21st. Finally, Vertical Research lowered shares of Sonoco Products from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.33.
Shares of NYSE SON opened at $64.84 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.36 and a debt-to-equity ratio of 0.66. Sonoco Products has a 12 month low of $50.30 and a 12 month high of $66.57. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 3.91 and a beta of 0.94. The stock has a fifty day moving average of $64.59.
Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Thursday, April 18th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.05. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.37 billion. Sonoco Products had a net margin of 5.76% and a return on equity of 19.57%. Sonoco Products’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. Research analysts expect that Sonoco Products will post 3.58 EPS for the current year.
In other Sonoco Products news, SVP R. Howard Coker sold 6,484 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $61.94, for a total transaction of $401,618.96. Following the completion of the sale, the senior vice president now directly owns 215,108 shares in the company, valued at approximately $13,323,789.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Roger P. Schrum sold 812 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $62.25, for a total transaction of $50,547.00. Following the sale, the vice president now owns 7,938 shares of the company’s stock, valued at $494,140.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,381 shares of company stock valued at $758,537. 1.30% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in SON. Parallel Advisors LLC increased its stake in Sonoco Products by 102.4% during the 1st quarter. Parallel Advisors LLC now owns 755 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 382 shares in the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of Sonoco Products by 54.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 966 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 339 shares during the last quarter. Blue Sky Asset Management LLC purchased a new stake in shares of Sonoco Products during the 1st quarter valued at about $78,000. Country Trust Bank purchased a new stake in shares of Sonoco Products during the 2nd quarter valued at about $79,000. Finally, Joel Isaacson & Co. LLC purchased a new stake in shares of Sonoco Products during the 1st quarter valued at about $200,000. Institutional investors and hedge funds own 73.84% of the company’s stock.
Sonoco Products Company Profile
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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