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

Sonoco Products (NYSE:SON) had its price target lifted by research analysts at Truist Financial from $64.00 to $68.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price would suggest a potential upside of 16.69% from the stock’s previous close.

Several other research firms have also commented on SON. Wall Street Zen lowered shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Bank of America upped their price target on shares of Sonoco Products from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Argus raised Sonoco Products to a “hold” rating in a research note on Monday, April 20th. Deutsche Bank Aktiengesellschaft began coverage on Sonoco Products in a research note on Wednesday, April 1st. They set a “buy” rating and a $63.00 price objective on the stock. Finally, Citigroup boosted their target price on Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.78.

Sonoco Products Stock Performance

NYSE:SON opened at $58.27 on Friday. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 1.26 and a beta of 0.37. The business has a 50 day moving average of $52.16 and a 200 day moving average of $52.01. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.54. Sonoco Products has a 1-year low of $38.65 and a 1-year high of $58.62.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the business earned $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, sell-side analysts predict that Sonoco Products will post 5.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider James A. Harrell III purchased 6,753 shares of the business’s stock in a transaction on Monday, April 27th. The shares were acquired at an average price of $50.37 per share, with a total value of $340,148.61. Following the acquisition, the insider directly owned 10,070 shares in the company, valued at approximately $507,225.90. The trade was a 203.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.98% of the stock is owned by insiders.

Institutional Trading of Sonoco Products

A number of institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. increased its holdings in Sonoco Products by 77.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 258 shares during the period. LRI Investments LLC purchased a new stake in Sonoco Products in the 4th quarter worth approximately $29,000. WPG Advisers LLC grew its position in shares of Sonoco Products by 93.1% in the 1st quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock worth $33,000 after buying an additional 295 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Sonoco Products by 1,826.9% during the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock valued at $43,000 after buying an additional 950 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Sonoco Products during the fourth quarter valued at approximately $47,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Company Profile

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.