Sonoco Products (NYSE:SON) Price Target Raised to $62.00 at UBS Group

Sonoco Products (NYSE:SON) had its target price boosted by UBS Group from $48.00 to $62.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. UBS Group’s target price suggests a potential upside of 10.66% from the company’s previous close.

A number of other equities research analysts have also commented on the company. Wells Fargo & Company raised their price target on Sonoco Products from $47.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday. Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, January 21st. Wall Street Zen upgraded Sonoco Products from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Jefferies Financial Group reduced their price target on shares of Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Finally, Bank of America upgraded shares of Sonoco Products from a “neutral” rating to a “buy” rating and raised their price objective for the company from $56.00 to $60.00 in a research report on Monday, January 5th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $60.75.

Sonoco Products Price Performance

Shares of NYSE:SON traded down $1.60 on Thursday, hitting $56.03. The stock had a trading volume of 953,290 shares, compared to its average volume of 1,086,818. The firm’s 50 day moving average price is $47.32 and its 200-day moving average price is $44.65. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 1.05. Sonoco Products has a twelve month low of $38.65 and a twelve month high of $58.44. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 5.56, a price-to-earnings-growth ratio of 0.88 and a beta of 0.54.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Monday, February 16th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.76 billion. Sonoco Products had a net margin of 13.34% and a return on equity of 18.52%. The firm’s quarterly revenue was up 29.7% on a year-over-year basis. During the same period last year, the firm posted $1.17 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, equities research analysts predict that Sonoco Products will post 6.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. grew its stake in Sonoco Products by 13.5% in the fourth quarter. Invesco Ltd. now owns 1,498,703 shares of the industrial products company’s stock valued at $65,403,000 after acquiring an additional 178,638 shares during the period. Ameriflex Group Inc. lifted its holdings in shares of Sonoco Products by 82.1% during the 4th quarter. Ameriflex Group Inc. now owns 1,639 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 739 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Sonoco Products by 22.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 34,582 shares of the industrial products company’s stock valued at $1,509,000 after purchasing an additional 6,345 shares during the period. First Citizens Bank & Trust Co. bought a new stake in Sonoco Products during the 4th quarter worth approximately $922,000. Finally, State of Tennessee Department of Treasury raised its holdings in Sonoco Products by 6.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 38,277 shares of the industrial products company’s stock worth $1,837,000 after buying an additional 2,250 shares during the period. 77.69% of the stock is currently owned by institutional investors.

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.