Sonoco Products Company (NYSE:SON) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Sonoco Products Company (NYSE:SON) have been given a consensus recommendation of “Hold” by the nine research firms that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $54.8571.

Several analysts have commented on SON shares. Bank of America raised shares of Sonoco Products from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $56.00 to $60.00 in a research report on Monday, January 5th. Raymond James Financial set a $60.00 price objective on shares of Sonoco Products in a report on Monday, January 5th. UBS Group increased their target price on shares of Sonoco Products from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Jefferies Financial Group reduced their price target on Sonoco Products from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday, January 21st.

Hedge Funds Weigh In On Sonoco Products

A number of institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Sonoco Products by 9.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,661 shares of the industrial products company’s stock worth $1,251,000 after buying an additional 2,410 shares during the period. Elevated Capital Advisors LLC lifted its position in Sonoco Products by 14.7% during the 4th quarter. Elevated Capital Advisors LLC now owns 14,203 shares of the industrial products company’s stock worth $620,000 after acquiring an additional 1,817 shares during the last quarter. Merit Financial Group LLC boosted its holdings in Sonoco Products by 32.5% during the fourth quarter. Merit Financial Group LLC now owns 13,263 shares of the industrial products company’s stock valued at $579,000 after acquiring an additional 3,251 shares during the period. CWM LLC grew its position in shares of Sonoco Products by 14.3% in the fourth quarter. CWM LLC now owns 77,699 shares of the industrial products company’s stock valued at $3,391,000 after purchasing an additional 9,747 shares during the last quarter. Finally, Choreo LLC bought a new position in shares of Sonoco Products in the fourth quarter worth about $292,000. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Trading Down 1.6%

Shares of NYSE SON opened at $48.15 on Wednesday. The business has a 50 day simple moving average of $44.19 and a 200 day simple moving average of $44.14. Sonoco Products has a 52 week low of $38.65 and a 52 week high of $50.09. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 7.64, a PEG ratio of 0.76 and a beta of 0.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92.

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.