Wall Street Zen Upgrades Sonoco Products (NYSE:SON) to “Buy”

Sonoco Products (NYSE:SON) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other research analysts have also issued reports on SON. UBS Group upped their target price on shares of Sonoco Products from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Zacks Research raised shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Raymond James Financial set a $60.00 target price on shares of Sonoco Products in a research note on Monday, January 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, January 21st. Finally, Jefferies Financial Group decreased their price objective on Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $54.86.

Sonoco Products Stock Performance

Sonoco Products stock opened at $51.41 on Friday. Sonoco Products has a fifty-two week low of $38.65 and a fifty-two week high of $51.83. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 8.16, a PEG ratio of 0.80 and a beta of 0.54. The stock has a fifty day moving average of $45.49 and a two-hundred day moving average of $44.30. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SON. IFP Advisors Inc increased its stake in Sonoco Products by 8.6% during the fourth quarter. IFP Advisors Inc now owns 2,996 shares of the industrial products company’s stock worth $131,000 after acquiring an additional 237 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in shares of Sonoco Products by 13.2% during the 2nd quarter. Richardson Financial Services Inc. now owns 2,185 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 255 shares during the period. SBI Securities Co. Ltd. increased its position 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 in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Sonoco Products by 5.3% in the third quarter. CIBC Private Wealth Group LLC now owns 6,006 shares of the industrial products company’s stock valued at $259,000 after buying an additional 304 shares during the period. Finally, Linden Thomas Advisory Services LLC lifted its position in Sonoco Products by 2.8% during the third quarter. Linden Thomas Advisory Services LLC now owns 12,742 shares of the industrial products company’s stock valued at $549,000 after buying an additional 345 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

About Sonoco Products

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.