UBS Group Forecasts Strong Price Appreciation for Sonoco Products (NYSE:SON) Stock

Sonoco Products (NYSE:SON) had its price objective raised by investment analysts at UBS Group from $44.00 to $48.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price target points to a potential upside of 0.79% from the stock’s current price.

A number of other brokerages have also recently weighed in on SON. 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 note on Friday, October 24th. Citigroup dropped their price target on shares of Sonoco Products from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, September 29th. Zacks Research upgraded shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Truist Financial boosted their target price on Sonoco Products from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, Raymond James Financial set a $60.00 price objective on Sonoco Products in a research note on Monday, January 5th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $54.86.

Sonoco Products Price Performance

Shares of NYSE SON opened at $47.62 on Monday. The business has a 50 day simple moving average of $42.58 and a 200-day simple moving average of $43.96. Sonoco Products has a twelve month low of $38.65 and a twelve month high of $50.09. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 0.73 and a beta of 0.55. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14.

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

Insider Buying and Selling

In other news, CFO Paul Joachimczyk acquired 20,500 shares of the stock in a transaction on Wednesday, October 29th. The shares were purchased at an average cost of $39.50 per share, for a total transaction of $809,750.00. Following the transaction, the chief financial officer owned 20,500 shares in the company, valued at approximately $809,750. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John R. Haley bought 2,506 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was acquired at an average cost of $39.87 per share, with a total value of $99,914.22. Following the transaction, the director owned 23,310 shares of the company’s stock, valued at $929,369.70. This trade 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 Investors Weigh In On Sonoco Products

Several large investors have recently made changes to their positions in the company. ST Germain D J Co. Inc. acquired a new stake in shares of Sonoco Products in the second quarter worth $26,000. Cornerstone Planning Group LLC acquired a new position in shares of Sonoco Products during the third quarter valued at about $29,000. TD Waterhouse Canada Inc. bought a new stake in shares of Sonoco Products in the second quarter valued at about $30,000. True Wealth Design LLC grew its position in Sonoco Products by 172.5% during the third quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock worth $32,000 after buying an additional 471 shares in the last quarter. Finally, Ameriflex Group Inc. increased its stake in Sonoco Products by 1,263.6% during the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 834 shares during the period. Institutional investors own 77.69% of the company’s stock.

About Sonoco Products

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.