Truist Financial Raises Sonoco Products (NYSE:SON) Price Target to $68.00

Sonoco Products (NYSE:SON) had its price objective hoisted by equities researchers at Truist Financial from $64.00 to $68.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would suggest a potential upside of 17.60% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Argus raised shares of Sonoco Products to a “hold” rating in a research note on Monday, April 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Sonoco Products in a research report on Wednesday, April 1st. They set a “buy” rating and a $63.00 price target for the company. Robert W. Baird decreased their price target on shares of Sonoco Products from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. Finally, UBS Group lowered their price objective on Sonoco Products from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.78.

Sonoco Products Price Performance

SON traded up $1.50 during trading on Friday, hitting $57.82. The company’s stock had a trading volume of 443,212 shares, compared to its average volume of 1,185,117. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.97. Sonoco Products has a twelve month low of $38.65 and a twelve month high of $58.44. The business’s fifty day simple moving average is $51.93 and its 200 day simple moving average is $51.97. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 9.19, a P/E/G ratio of 1.20 and a beta of 0.37.

Sonoco Products (NYSE:SON) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.04. Sonoco Products had a return on equity of 16.60% and a net margin of 8.41%.The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the company posted $1.37 EPS. The business’s quarterly revenue was down 1.3% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, equities research analysts forecast that Sonoco Products will post 5.79 EPS for the current fiscal year.

Insider Activity

In other Sonoco Products news, insider James A. Harrell III bought 6,753 shares of Sonoco Products stock in a transaction dated Monday, April 27th. The stock was acquired at an average cost of $50.37 per share, for a total transaction of $340,148.61. Following the completion of the transaction, the insider directly owned 10,070 shares of the company’s stock, valued at approximately $507,225.90. This represents a 203.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.98% of the stock is owned by insiders.

Institutional Trading of Sonoco Products

Several large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Sonoco Products by 44.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company’s stock worth $2,319,000 after purchasing an additional 15,079 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Sonoco Products by 80.8% during the first quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company’s stock worth $9,755,000 after buying an additional 92,286 shares during the last quarter. Empowered Funds LLC boosted its stake in Sonoco Products by 14.1% during the first quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company’s stock worth $522,000 after buying an additional 1,364 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Sonoco Products by 87.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company’s stock valued at $25,754,000 after buying an additional 255,055 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Sonoco Products by 315.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 1,205 shares during the last quarter. Hedge funds and other 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.