Sonoco Products (NYSE:SON) Stock Gets Price Target Trim from Truist Financial

Sonoco Products (NYSE:SON) had its target price reduced by Truist Financial from $68.00 to $62.00 in a research report report published on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Several other equities research analysts have also issued reports on SON. UBS Group decreased their target price on Sonoco Products from $61.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Citigroup lifted their target price on Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Weiss Ratings downgraded shares of Sonoco Products from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 11th. Finally, Bank of America downgraded shares of Sonoco Products from a “buy” rating to a “neutral” rating and cut their price target for the stock from $69.00 to $60.00 in a report on Thursday, September 3rd. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Sonoco Products has an average rating of “Hold” and an average price target of $59.22.

Sonoco Products Stock Performance

SON stock opened at $49.04 on Monday. The firm has a market cap of $4.85 billion, a PE ratio of 7.80, a P/E/G ratio of 1.25 and a beta of 0.35. The company has a quick ratio of 0.55, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average of $52.43 and a 200-day moving average of $52.72. Sonoco Products has a 12-month low of $38.65 and a 12-month high of $60.67.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%. Sonoco Products’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the business posted $1.37 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, sell-side analysts expect that Sonoco Products will post 5.71 earnings per share for the current year.

Institutional Investors Weigh In On Sonoco Products

Several large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Sonoco Products in the second quarter valued at approximately $657,016,000. Bank of America Corp DE bought a new position in Sonoco Products during the second quarter valued at $204,968,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Sonoco Products during the second quarter valued at $1,567,000. Legal & General Group Plc purchased a new stake in Sonoco Products in the second quarter worth $8,329,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Sonoco Products in the second quarter worth $6,004,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Company Profile

Sonoco Products Company (NYSE:SON) is a global packaging company headquartered in Hartsville, South Carolina. Founded in 1899 as the Southern Novelty Company, Sonoco has developed into a diversified provider of packaging products and services for consumer and industrial markets.

The company produces consumer packaging such as rigid paper and plastic containers, metal cans, flexible packaging, thermoformed packaging, closures, and packaging displays. Its industrial packaging activities include paper tubes and cores, protective packaging, molded foam products, pallets, and other materials used to protect, store, and transport goods.