Sonoco Products (NYSE:SON) Price Target Cut to $53.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo lowered Sonoco Products’ price target to $53 from $56 while maintaining an “equal weight” rating, implying 6.58% upside from the prior close.
• Analyst sentiment remains cautious: Sonoco has an average “Hold” rating and a consensus price target of $58.89, with four Buy ratings and eight Holds.
• Shares fell 0.1% to $49.73. The company recently exceeded quarterly earnings expectations, reporting $1.51 EPS versus the $1.47 consensus, though revenue declined 1.3% year over year.

Sonoco Products (NYSE:SON - Get Free Report) had its target price decreased by research analysts at Wells Fargo & Company from $56.00 to $53.00 in a research note issued on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's target price suggests a potential upside of 6.58% from the stock's previous close.

SON has been the subject of a number of other reports. Bank of America downgraded shares of Sonoco Products from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $69.00 to $60.00 in a research report on Thursday, September 3rd. Weiss Ratings cut shares of Sonoco Products from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 11th. Citigroup boosted 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. UBS Group reduced their target price on Sonoco Products from $61.00 to $51.00 and set a "neutral" rating for the company in a report on Monday, October 5th. Finally, Truist Financial decreased their price target on Sonoco Products from $68.00 to $62.00 and set a "buy" rating for the company in a research report on Monday, October 12th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $58.89.

Sonoco Products Stock Down 0.1%

NYSE SON traded down $0.06 on Monday, reaching $49.73. The company had a trading volume of 425,065 shares, compared to its average volume of 1,145,835. 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 company's fifty day moving average is $52.12 and its 200 day moving average is $52.67. Sonoco Products has a 52-week low of $38.65 and a 52-week high of $60.67. The stock has a market capitalization of $4.92 billion, a P/E ratio of 7.91, a P/E/G ratio of 1.28 and a beta of 0.35.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.04. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm earned $1.37 EPS. The business's revenue for the quarter was down 1.3% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Sell-side analysts anticipate that Sonoco Products will post 5.68 earnings per share for the current fiscal year.

Institutional Trading of Sonoco Products

A number of large investors have recently added to or reduced their stakes in SON. BlackRock Inc. bought a new stake in shares of Sonoco Products during the 2nd quarter valued at $657,016,000. Bank of America Corp DE purchased a new stake in Sonoco Products during the 2nd quarter worth about $204,968,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Sonoco Products in the 2nd quarter worth about $1,567,000. Legal & General Group Plc bought a new position in Sonoco Products in the 2nd quarter worth about $8,329,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Sonoco Products during the 2nd quarter valued at about $6,004,000. 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 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.

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