Sonoco Products (NYSE:SON) Downgraded to “C+” at TheStreet

Sonoco Products (NYSE:SONGet Rating) was downgraded by equities research analysts at TheStreet from a “b” rating to a “c+” rating in a research note issued to investors on Thursday, TheStreetRatingsTable reports.

SON has been the topic of a number of other reports. lowered shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Seaport Res Ptn downgraded Sonoco Products from a “buy” rating to a “neutral” rating in a report on Friday, April 22nd. Wells Fargo & Company lifted their target price on Sonoco Products from $59.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Sonoco Products from $63.00 to $65.00 in a research note on Monday, April 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sonoco Products presently has a consensus rating of “Hold” and an average price target of $63.14.

NYSE SON opened at $56.32 on Thursday. The stock’s 50 day simple moving average is $61.14 and its 200 day simple moving average is $59.31. Sonoco Products has a one year low of $54.34 and a one year high of $68.93. The firm has a market cap of $5.49 billion, a PE ratio of -144.41, a price-to-earnings-growth ratio of 2.14 and a beta of 0.72. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.31 and a quick ratio of 0.81.

Sonoco Products (NYSE:SONGet Rating) last announced its earnings results on Thursday, April 21st. The industrial products company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. Sonoco Products had a positive return on equity of 23.98% and a negative net margin of 0.71%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The business’s revenue for the quarter was up 30.9% on a year-over-year basis. As a group, equities analysts expect that Sonoco Products will post 5.38 earnings per share for the current year.

In other Sonoco Products news, CFO Julie C. Albrecht sold 1,693 shares of the stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $61.89, for a total value of $104,779.77. Following the transaction, the chief financial officer now owns 54,091 shares of the company’s stock, valued at $3,347,691.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.47% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SON. CWM LLC acquired a new position in Sonoco Products in the fourth quarter valued at about $27,000. Quadrant Capital Group LLC lifted its holdings in shares of Sonoco Products by 80.0% during the 1st quarter. Quadrant Capital Group LLC now owns 468 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 208 shares in the last quarter. Richwood Investment Advisors LLC acquired a new position in shares of Sonoco Products in the 4th quarter valued at approximately $39,000. Moors & Cabot Inc. bought a new stake in Sonoco Products during the 3rd quarter worth approximately $45,000. Finally, UMB Bank N A MO acquired a new stake in Sonoco Products during the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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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