UBS Group Lowers Sonoco Products (NYSE:SON) Price Target to $46.00

Sonoco Products (NYSE:SON) had its price target lowered by equities researchers at UBS Group from $50.00 to $46.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price target would suggest a potential upside of 8.43% from the stock’s previous close.

A number of other analysts have also commented on the stock. Raymond James Financial upped their price objective on shares of Sonoco Products from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Citigroup reduced their price objective on shares of Sonoco Products from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, September 29th. Truist Financial upped their price objective on shares of Sonoco Products from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sonoco Products in a research note on Saturday, September 27th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.13.

Sonoco Products Stock Performance

NYSE:SON opened at $42.42 on Monday. Sonoco Products has a twelve month low of $39.46 and a twelve month high of $55.33. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.53. The company has a 50-day moving average of $45.64 and a 200-day moving average of $45.39. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 7.60, a price-to-earnings-growth ratio of 0.57 and a beta of 0.68.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.07). Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the business posted $1.28 EPS. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. Analysts forecast that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Institutional Trading of Sonoco Products

Hedge funds have recently made changes to their positions in the stock. ST Germain D J Co. Inc. purchased a new stake in shares of Sonoco Products in the second quarter worth approximately $26,000. TD Waterhouse Canada Inc. bought a new position in Sonoco Products during the second quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. raised its position in Sonoco Products by 508.1% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 752 shares in the last quarter. UMB Bank n.a. raised its position in Sonoco Products by 152.7% during the first quarter. UMB Bank n.a. now owns 950 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 574 shares in the last quarter. Finally, Allworth Financial LP raised its position in Sonoco Products by 152.0% during the first quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 646 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

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.