Sonoco Products (NYSE:SON) Now Covered by Raymond James

Analysts at Raymond James started coverage on shares of Sonoco Products (NYSE:SON) in a note issued to investors on Friday, MarketBeat.com reports. The firm set an “outperform” rating and a $62.00 price target on the industrial products company’s stock. Raymond James’ price target points to a potential upside of 19.51% from the company’s previous close.

Several other research firms have also recently issued reports on SON. StockNews.com cut shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. Citigroup dropped their price objective on shares of Sonoco Products from $64.00 to $60.00 and set a “buy” rating for the company in a report on Monday, July 8th. Finally, Wells Fargo & Company dropped their price objective on shares of Sonoco Products from $57.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.00.

Sonoco Products Stock Performance

NYSE:SON opened at $51.88 on Friday. The company’s 50-day moving average price is $55.92 and its 200-day moving average price is $56.66. The company has a current ratio of 1.31, a quick ratio of 0.83 and a debt-to-equity ratio of 1.08. The company has a market cap of $5.10 billion, a P/E ratio of 13.10, a P/E/G ratio of 2.28 and a beta of 0.68. Sonoco Products has a twelve month low of $48.22 and a twelve month high of $61.73.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the business earned $1.40 earnings per share. Sonoco Products’s revenue was down 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Sonoco Products will post 5.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in Sonoco Products in the first quarter worth approximately $26,000. FinTrust Capital Advisors LLC lifted its stake in Sonoco Products by 78.8% in the first quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 216 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in Sonoco Products in the fourth quarter worth approximately $28,000. Burkett Financial Services LLC purchased a new position in Sonoco Products in the fourth quarter worth approximately $30,000. Finally, TFO Wealth Partners LLC lifted its stake in Sonoco Products by 12,183.3% in the fourth quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 731 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Company Profile

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.