Sonoco Products (NYSE:SON) Rating Increased to Hold at Argus

Sonoco Products (NYSE:SON) was upgraded by equities research analysts at Argus to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on SON. Citigroup raised their price objective on shares of Sonoco Products from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, January 21st. Zacks Research upgraded shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Raymond James Financial reiterated a “market perform” rating on shares of Sonoco Products in a report on Friday, March 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sonoco Products in a report on Wednesday, April 1st. They issued a “buy” rating and a $63.00 price objective for the company. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $61.78.

Sonoco Products Stock Down 1.1%

SON stock opened at $56.75 on Monday. The stock has a market capitalization of $5.61 billion, a P/E ratio of 5.64, a price-to-earnings-growth ratio of 1.15 and a beta of 0.50. The company has a current ratio of 1.05, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. Sonoco Products has a 12 month low of $38.65 and a 12 month high of $58.44. The firm has a 50-day moving average price of $54.32 and a 200-day moving average price of $47.26.

Sonoco Products (NYSE:SON) last posted its earnings results on Tuesday, February 17th. The industrial products company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The firm 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 revenue for the quarter was up 29.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 earnings per share. As a group, equities research analysts anticipate that Sonoco Products will post 5.93 EPS for the current fiscal year.

Insider Transactions at Sonoco Products

In other Sonoco Products news, insider Ernest D. Haynes III sold 1,581 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $56.39, for a total transaction of $89,152.59. Following the completion of the transaction, the insider owned 9,377 shares in the company, valued at approximately $528,769.03. This trade represents a 14.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SON. SBI Securities Co. Ltd. raised 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 worth $26,000 after purchasing an additional 258 shares during the last quarter. Cornerstone Planning Group LLC bought a new position in Sonoco Products during the 3rd quarter worth approximately $29,000. LRI Investments LLC bought a new position in Sonoco Products during the 4th quarter worth approximately $29,000. True Wealth Design LLC raised its holdings in Sonoco Products by 172.5% during the 3rd quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 471 shares during the last quarter. Finally, Ameriflex Group Inc. raised its holdings in Sonoco Products by 1,263.6% during the 3rd quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 834 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

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.