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

Sonoco Products (NYSE:SON) had its target price upped by stock analysts at Citigroup from $52.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Citigroup’s target price suggests a potential upside of 23.94% from the company’s current price.

Several other equities research analysts have also commented on the stock. Wall Street Zen raised shares of Sonoco Products from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Zacks Research upgraded Sonoco Products from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Jefferies Financial Group dropped their target price on Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Bank of America upgraded Sonoco Products from a “neutral” rating to a “buy” rating and lifted their price target for the company from $56.00 to $60.00 in a research report on Monday, January 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.63.

Sonoco Products Price Performance

Shares of NYSE SON opened at $56.48 on Thursday. Sonoco Products has a 52 week low of $38.65 and a 52 week high of $58.44. The company has a quick ratio of 0.58, a current ratio of 1.05 and a debt-to-equity ratio of 1.04. The firm has a market cap of $5.57 billion, a P/E ratio of 5.61, a P/E/G ratio of 1.12 and a beta of 0.54. The business’s 50 day moving average price is $47.88 and its 200 day moving average price is $44.81.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Monday, February 16th. The industrial products company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Sonoco Products had a net margin of 13.34% and a return on equity of 18.52%. The business’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.17 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, sell-side analysts expect that Sonoco Products will post 6.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Powell Investment Advisors LLC increased its holdings in Sonoco Products by 1.0% in the 4th quarter. Powell Investment Advisors LLC now owns 20,718 shares of the industrial products company’s stock worth $904,000 after acquiring an additional 203 shares in the last quarter. IFP Advisors Inc grew its position in shares of Sonoco Products by 8.6% in the fourth quarter. IFP Advisors Inc now owns 2,996 shares of the industrial products company’s stock valued at $131,000 after purchasing an additional 237 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Sonoco Products by 77.7% during the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 258 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Sonoco Products by 5.3% during the third quarter. CIBC Private Wealth Group LLC now owns 6,006 shares of the industrial products company’s stock worth $259,000 after purchasing an additional 304 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in shares of Sonoco Products by 2.8% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 12,742 shares of the industrial products company’s stock worth $549,000 after purchasing an additional 345 shares during the last quarter. Hedge funds and other 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.