Sonoco (NYSE:SON) was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating in a report released on Thursday.
SON has been the subject of a number of other reports. Bank of America lowered shares of Sonoco from a “buy” rating to a “neutral” rating and set a $59.00 price objective for the company. in a report on Monday, April 2nd. Zacks Investment Research raised shares of Sonoco from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Tuesday, February 13th. KeyCorp reaffirmed a “hold” rating on shares of Sonoco in a report on Thursday. UBS initiated coverage on shares of Sonoco in a report on Friday, April 13th. They set a “buy” rating and a $55.00 price objective for the company. Finally, Vertical Research raised shares of Sonoco from a “hold” rating to a “buy” rating in a report on Friday, March 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $53.86.
Shares of SON opened at $51.75 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.61 and a debt-to-equity ratio of 0.72. Sonoco has a 1 year low of $46.55 and a 1 year high of $55.77. The company has a market cap of $5,148.47, a price-to-earnings ratio of 18.55, a P/E/G ratio of 3.37 and a beta of 1.12.
Sonoco (NYSE:SON) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Sonoco had a net margin of 3.79% and a return on equity of 17.02%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the business earned $0.62 earnings per share. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. analysts forecast that Sonoco will post 3.29 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of Sonoco by 0.5% in the fourth quarter. BlackRock Inc. now owns 10,807,162 shares of the industrial products company’s stock valued at $574,293,000 after purchasing an additional 50,184 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Sonoco by 12.3% in the fourth quarter. First Trust Advisors LP now owns 775,642 shares of the industrial products company’s stock valued at $41,218,000 after purchasing an additional 84,665 shares in the last quarter. Capital Analysts LLC purchased a new position in shares of Sonoco in the fourth quarter valued at $7,752,000. MAI Capital Management purchased a new position in shares of Sonoco in the fourth quarter valued at $215,000. Finally, California Public Employees Retirement System grew its holdings in shares of Sonoco by 3.4% in the third quarter. California Public Employees Retirement System now owns 254,300 shares of the industrial products company’s stock valued at $12,829,000 after purchasing an additional 8,250 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.
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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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