Sonoco Products (NYSE:SON) Price Target Raised to $65.00 at Deutsche Bank Aktiengesellschaft

Sonoco Products (NYSE:SONGet Rating) had its price target boosted by analysts at Deutsche Bank Aktiengesellschaft from $63.00 to $65.00 in a research report issued to clients and investors on Monday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 2.25% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Seaport Research Partners raised shares of Sonoco Products from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 21st. Wells Fargo & Company reduced their target price on shares of Sonoco Products from $66.00 to $58.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 12th. Seaport Global Securities raised shares of Sonoco Products from a “neutral” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Tuesday, December 21st. StockNews.com initiated coverage on shares of Sonoco Products in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Seaport Res Ptn reissued a “buy” rating on shares of Sonoco Products in a research report on Friday, February 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.29.

Sonoco Products stock opened at $63.57 on Monday. Sonoco Products has a 52-week low of $54.34 and a 52-week high of $69.83. The firm has a 50 day moving average price of $59.29 and a two-hundred day moving average price of $59.17. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of -74.79, a PEG ratio of 2.57 and a beta of 0.76. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 1.09.

Sonoco Products (NYSE:SONGet Rating) last issued its earnings results on Thursday, February 10th. The industrial products company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.01. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.40 billion. Sonoco Products had a positive return on equity of 19.11% and a negative net margin of 1.53%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. As a group, equities research analysts predict that Sonoco Products will post 4.96 EPS for the current fiscal year.

In other news, VP Harold G. Cummings III acquired 2,200 shares of Sonoco Products stock in a transaction on Tuesday, February 15th. The stock was acquired at an average cost of $56.45 per share, with a total value of $124,190.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. TPG Financial Advisors LLC boosted its holdings in Sonoco Products by 12.9% in the 1st quarter. TPG Financial Advisors LLC now owns 5,913 shares of the industrial products company’s stock valued at $370,000 after purchasing an additional 676 shares during the period. Gateway Investment Advisers LLC boosted its stake in Sonoco Products by 1.0% in the first quarter. Gateway Investment Advisers LLC now owns 145,122 shares of the industrial products company’s stock worth $9,079,000 after buying an additional 1,506 shares in the last quarter. My Legacy Advisors LLC bought a new position in shares of Sonoco Products during the 1st quarter valued at $619,000. Diversified Trust Co bought a new stake in Sonoco Products in the first quarter valued at approximately $227,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC raised its holdings in Sonoco Products by 400.0% during the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 1,750 shares of the industrial products company’s stock valued at $109,000 after buying an additional 1,400 shares during the last quarter. 77.25% of the stock is owned by hedge funds and other institutional investors.

About Sonoco Products (Get Rating)

Sonoco Products Company, together with its subsidiaries, manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through two segments: Consumer Packaging and Industrial Paper Packaging. The Consumer Packaging segment round and shaped rigid paper containers; metal and peelable membrane ends and closures; thermoformed plastic trays and containers; printed flexible packaging; and global brand artwork management.

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