Sonoco Products (NYSE:SON) Earns Buy Rating from Robert W. Baird

Sonoco Products (NYSE:SON)‘s stock had its “buy” rating reiterated by investment analysts at Robert W. Baird in a research report issued on Friday, November 10th. They presently have a $60.00 price target on the industrial products company’s stock. Robert W. Baird’s price objective points to a potential upside of 13.10% from the stock’s previous close.

A number of other equities analysts also recently commented on SON. Vertical Research downgraded shares of Sonoco Products from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. Bank of America upped their target price on shares of Sonoco Products from $55.00 to $56.00 and gave the stock an “underperform” rating in a research note on Friday, July 21st. Barclays restated an “underweight” rating and issued a $48.00 target price (up from $45.00) on shares of Sonoco Products in a research note on Monday, July 24th. BidaskClub downgraded shares of Sonoco Products from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Jefferies Group restated a “hold” rating and issued a $48.00 target price on shares of Sonoco Products in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Sonoco Products has a consensus rating of “Hold” and an average target price of $52.00.

Shares of Sonoco Products (NYSE:SON) traded up $0.87 during trading hours on Friday, reaching $53.05. 309,200 shares of the company traded hands, compared to its average volume of 531,410. The company has a market cap of $5,111.19, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 3.94 and a beta of 1.15. Sonoco Products has a one year low of $47.10 and a one year high of $55.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.59 and a quick ratio of 1.11.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Thursday, October 19th. The industrial products company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sonoco Products had a net margin of 5.63% and a return on equity of 16.40%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. analysts predict that Sonoco Products will post 2.8 earnings per share for the current fiscal year.

In related news, SVP Vicki B. Arthur sold 727 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $53.00, for a total transaction of $38,531.00. Following the completion of the sale, the senior vice president now owns 33,998 shares of the company’s stock, valued at $1,801,894. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marcy J. Thompson sold 565 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $51.00, for a total transaction of $28,815.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,937 shares of company stock worth $363,088. Insiders own 1.90% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. National Planning Corp lifted its position in Sonoco Products by 0.3% during the second quarter. National Planning Corp now owns 12,647 shares of the industrial products company’s stock valued at $652,000 after acquiring an additional 42 shares during the last quarter. World Asset Management Inc raised its holdings in shares of Sonoco Products by 0.8% in the second quarter. World Asset Management Inc now owns 6,896 shares of the industrial products company’s stock worth $355,000 after buying an additional 57 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Sonoco Products by 1.0% in the second quarter. Teacher Retirement System of Texas now owns 7,952 shares of the industrial products company’s stock worth $409,000 after buying an additional 76 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Sonoco Products by 0.7% in the second quarter. Bank of Montreal Can now owns 12,995 shares of the industrial products company’s stock worth $669,000 after buying an additional 88 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Sonoco Products by 1.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 9,411 shares of the industrial products company’s stock worth $484,000 after buying an additional 177 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

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About Sonoco Products

Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.

Analyst Recommendations for Sonoco Products (NYSE:SON)

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