Sonoco Products (NYSE:SON) Stock Rating Upgraded by StockNews.com

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

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

Sonoco Products Trading Down 0.6 %

NYSE SON opened at $51.66 on Tuesday. The business has a 50 day simple moving average of $58.23 and a 200 day simple moving average of $57.33. Sonoco Products has a one year low of $49.98 and a one year high of $61.73. The stock has a market capitalization of $5.08 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.98 and a beta of 0.72. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.31 and a quick ratio of 0.83.

Sonoco Products (NYSE:SON) last released its earnings results on Tuesday, April 30th. The industrial products company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.05 by $0.07. Sonoco Products had a return on equity of 20.79% and a net margin of 5.86%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the firm posted $1.40 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. Research analysts expect that Sonoco Products will post 5.19 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Rise Advisors LLC purchased a new position in shares of Sonoco Products in the first quarter valued at $26,000. Bruce G. Allen Investments LLC purchased a new position in shares of Sonoco Products in the fourth quarter valued at $28,000. FinTrust Capital Advisors LLC boosted its stake in Sonoco Products by 78.8% during the first quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock valued at $28,000 after buying an additional 216 shares during the period. Burkett Financial Services LLC bought a new stake in Sonoco Products during the fourth quarter valued at $30,000. Finally, TFO Wealth Partners LLC boosted its stake in Sonoco Products by 12,183.3% during the fourth quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company’s stock valued at $41,000 after buying an additional 731 shares during the period. Institutional investors own 77.69% of the company’s stock.

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.