Sonoco Products (NYSE:SON) Given Hold (C-) Rating at Weiss Ratings

Key Points

• Sonoco Products (NYSE:SON) received a "hold (C-)" rating from Weiss Ratings, indicating a cautious outlook from analysts.
• UBS Group and Citigroup lowered their price targets on the stock, while Truist Financial and Raymond James Financial increased theirs, showcasing mixed sentiments from different analysts.
• Sonoco Products reported a quarterly earnings miss with $1.37 EPS, falling short of the consensus estimate of $1.44, although its revenue rose by 17.7% year-over-year.

Sonoco Products (NYSE:SON - Get Free Report)'s stock had its "hold (c-)" rating reiterated by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

SON has been the subject of several other research reports. UBS Group cut their price target on Sonoco Products from $50.00 to $46.00 and set a "neutral" rating for the company in a research note on Monday. Truist Financial upped their price target on Sonoco Products from $53.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Citigroup cut their price target on Sonoco Products from $56.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, September 29th. Finally, Raymond James Financial upped their price target on Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Sonoco Products currently has an average rating of "Moderate Buy" and an average target price of $57.13.

Sonoco Products Stock Performance

Shares of SON stock traded up $0.14 during trading hours on Wednesday, hitting $42.61. The stock had a trading volume of 694,662 shares, compared to its average volume of 1,037,252. The firm has a market capitalization of $4.20 billion, a PE ratio of 7.64, a PEG ratio of 0.57 and a beta of 0.68. Sonoco Products has a twelve month low of $39.46 and a twelve month high of $55.33. The stock's 50 day moving average is $45.58 and its 200 day moving average is $45.37. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.07). Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the company posted $1.28 earnings per share. Sonoco Products's revenue was up 17.7% compared to the same quarter last year. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. As a group, research analysts forecast that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. State Street Corp increased its position in shares of Sonoco Products by 0.3% in the second quarter. State Street Corp now owns 4,470,449 shares of the industrial products company's stock valued at $194,733,000 after buying an additional 13,161 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sonoco Products by 14.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,591,263 shares of the industrial products company's stock valued at $169,646,000 after buying an additional 450,792 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Sonoco Products by 70.1% in the second quarter. Nordea Investment Management AB now owns 2,827,569 shares of the industrial products company's stock valued at $122,914,000 after buying an additional 1,164,849 shares in the last quarter. Bank of America Corp DE increased its position in shares of Sonoco Products by 6.1% in the second quarter. Bank of America Corp DE now owns 2,804,621 shares of the industrial products company's stock valued at $122,169,000 after buying an additional 162,262 shares in the last quarter. Finally, Earnest Partners LLC increased its position in shares of Sonoco Products by 2.3% in the first quarter. Earnest Partners LLC now owns 2,655,347 shares of the industrial products company's stock valued at $125,439,000 after buying an additional 60,746 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.

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