Sonoco Products (NYSE:SON) Stock Price Target Cut by Truist Financial

Key Points

• Truist Financial lowered Sonoco Products’ price target from $68 to $62 while maintaining a “Buy” rating, implying roughly 28% upside from the stock’s $48.43 price.
• Analyst sentiment is mixed: four analysts rate Sonoco a Buy and eight rate it Hold, resulting in a consensus “Hold” rating and an average target price of $59.22.
• Sonoco beat quarterly earnings expectations, reporting $1.51 in EPS versus the $1.47 estimate, although revenue declined 1.3% year over year; institutional investors own 77.69% of the company.

Sonoco Products (NYSE:SON - Get Free Report) had its price target lowered by equities research analysts at Truist Financial from $68.00 to $62.00 in a report released on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Truist Financial's price objective would indicate a potential upside of 28.02% from the company's current price.

A number of other research analysts have also recently issued reports on SON. Weiss Ratings cut Sonoco Products from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, September 11th. UBS Group cut their price objective on Sonoco Products from $61.00 to $51.00 and set a "neutral" rating on the stock in a report on Monday, October 5th. Citigroup boosted their price objective on Sonoco Products from $63.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Finally, Bank of America cut Sonoco Products from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $69.00 to $60.00 in a research note on Thursday, September 3rd. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Sonoco Products currently has a consensus rating of "Hold" and a consensus target price of $59.22.

Sonoco Products Stock Performance

NYSE SON traded up $0.51 during midday trading on Monday, hitting $48.43. The company had a trading volume of 315,813 shares, compared to its average volume of 1,151,161. 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 stock has a market cap of $4.79 billion, a price-to-earnings ratio of 7.70, a P/E/G ratio of 1.22 and a beta of 0.35. The firm has a fifty day simple moving average of $52.98 and a two-hundred day simple moving average of $52.81. Sonoco Products has a fifty-two week low of $38.65 and a fifty-two week high of $60.67.

Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the prior year, the company posted $1.37 EPS. The business's 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. Equities analysts forecast that Sonoco Products will post 5.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC grew its stake in Sonoco Products by 2.3% in the third quarter. Sound Income Strategies LLC now owns 316,637 shares of the industrial products company's stock worth $15,325,000 after purchasing an additional 7,095 shares during the period. Wedmont Private Capital lifted its position in Sonoco Products by 142.0% during the third quarter. Wedmont Private Capital now owns 13,891 shares of the industrial products company's stock valued at $672,000 after buying an additional 8,151 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Sonoco Products by 16.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,646 shares of the industrial products company's stock valued at $178,000 after buying an additional 512 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Sonoco Products by 126.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,438 shares of the industrial products company's stock valued at $510,000 after buying an additional 5,830 shares in the last quarter. Finally, Apella Capital LLC purchased a new stake in shares of Sonoco Products in the 3rd quarter worth about $453,000. 77.69% of the stock is owned by institutional investors.

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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