Sonoco Products (NYSE:SON) Given Buy Rating at Truist Financial

Sonoco Products (NYSE:SON)‘s stock had its “buy” rating reiterated by equities research analysts at Truist Financial in a report issued on Friday,Benzinga reports. They currently have a $69.00 price objective on the industrial products company’s stock, up from their prior price objective of $54.00. Truist Financial’s target price indicates a potential upside of 22.61% from the company’s previous close.

Several other equities research analysts also recently issued reports on SON. Zacks Research raised shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Wells Fargo & Company raised their target price on Sonoco Products from $47.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday, January 21st. Jefferies Financial Group reduced their price target on Sonoco Products from $61.00 to $60.00 and set a “buy” rating for the company in a report on Friday, October 24th. Finally, UBS Group raised their price objective on Sonoco Products from $48.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $62.63.

Sonoco Products Stock Up 0.4%

Shares of NYSE:SON traded up $0.21 during mid-day trading on Friday, hitting $56.28. 135,434 shares of the company traded hands, compared to its average volume of 1,070,371. The firm’s 50 day simple moving average is $47.60 and its 200 day simple moving average is $44.73. The firm has a market cap of $5.55 billion, a P/E ratio of 5.60, a PEG ratio of 1.15 and a beta of 0.54. 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 52-week low of $38.65 and a 52-week high of $58.44.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data 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 company 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%. Sonoco Products’s revenue for the quarter was up 29.7% on a year-over-year basis. During the same quarter last year, the company earned $1.17 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, equities analysts anticipate that Sonoco Products will post 6.1 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. grew its position in shares of Sonoco Products by 477.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,901,950 shares of the industrial products company’s stock valued at $257,561,000 after buying an additional 4,880,438 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Sonoco Products by 357.8% in the third quarter. AQR Capital Management LLC now owns 2,117,022 shares of the industrial products company’s stock worth $90,693,000 after acquiring an additional 1,654,576 shares during the last quarter. Norges Bank acquired a new position in Sonoco Products in the fourth quarter valued at approximately $54,611,000. Squarepoint Ops LLC boosted its stake in Sonoco Products by 2,813.2% in the fourth quarter. Squarepoint Ops LLC now owns 876,895 shares of the industrial products company’s stock valued at $38,268,000 after acquiring an additional 846,794 shares during the period. Finally, LSV Asset Management grew its holdings in shares of Sonoco Products by 95.7% during the fourth quarter. LSV Asset Management now owns 1,563,390 shares of the industrial products company’s stock valued at $68,226,000 after purchasing an additional 764,590 shares during the last quarter. Institutional investors 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.