Sonoco Products (NYSE:SON) Upgraded at StockNews.com

Sonoco Products (NYSE:SON) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.

A number of other research firms also recently issued reports on SON. Citigroup cut their target price on shares of Sonoco Products from $66.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Wells Fargo & Company increased their price target on shares of Sonoco Products from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $63.33.

Sonoco Products Price Performance

NYSE:SON traded down $1.35 during mid-day trading on Tuesday, reaching $51.95. 1,363,040 shares of the company were exchanged, compared to its average volume of 532,247. Sonoco Products has a 12 month low of $49.98 and a 12 month high of $61.73. The company has a fifty day moving average of $58.40 and a 200 day moving average of $57.39. The company has a quick ratio of 0.83, a current ratio of 1.31 and a debt-to-equity ratio of 1.08. The stock has a market cap of $5.10 billion, a PE ratio of 13.12, a PEG ratio of 2.12 and a beta of 0.72.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. Sonoco Products had a net margin of 5.86% and a return on equity of 20.79%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The company’s revenue was down 5.3% on a year-over-year basis. On average, research analysts anticipate that Sonoco Products will post 5.19 EPS for the current fiscal year.

Institutional Trading of Sonoco Products

Several hedge funds have recently bought and sold shares of SON. Norges Bank acquired a new stake in Sonoco Products during the 4th quarter worth approximately $62,387,000. FMR LLC grew its stake in shares of Sonoco Products by 1,231.2% during the 3rd quarter. FMR LLC now owns 694,263 shares of the industrial products company’s stock worth $37,733,000 after acquiring an additional 642,109 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Sonoco Products by 20.2% during the 3rd quarter. American Century Companies Inc. now owns 2,787,019 shares of the industrial products company’s stock worth $151,474,000 after acquiring an additional 467,431 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of Sonoco Products by 105.0% during the 4th quarter. Brown Advisory Inc. now owns 724,637 shares of the industrial products company’s stock worth $40,485,000 after acquiring an additional 371,096 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Sonoco Products by 30.8% during the 4th quarter. Sei Investments Co. now owns 1,275,530 shares of the industrial products company’s stock worth $71,264,000 after acquiring an additional 300,697 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.