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

Key Points

• Sonoco Products has been given a "hold (C-)" rating by Weiss Ratings, with several other firms also recently assigning similar ratings.
• The company's stock currently has an average consensus price target of $54.50 and a market capitalization of $3.99 billion.
• Sonoco Products reported $1.00 earnings per share in its last quarterly earnings, with a net margin of 8.82% and a return on equity of 20.49%.

Sonoco Products (NYSE:SON - Get Free Report)'s stock had its "hold (c-)" rating restated by equities researchers at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

A number of other analysts have also recently issued reports on SON. Bank of America restated a "neutral" rating and set a $56.00 price objective on shares of Sonoco Products in a research report on Thursday, October 9th. UBS Group lowered their price target on Sonoco Products from $50.00 to $46.00 and set a "neutral" rating on the stock in a research report on Monday, October 6th. Raymond James Financial reiterated a "market perform" rating on shares of Sonoco Products in a research report on Friday, October 17th. Truist Financial lowered their price target on Sonoco Products from $58.00 to $57.00 and set a "buy" rating on the stock in a research report on Monday, October 13th. Finally, Wells Fargo & Company upped their price target on Sonoco Products from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $54.50.

Sonoco Products Price Performance

Shares of NYSE:SON opened at $40.41 on Friday. The business has a 50 day moving average price of $44.36 and a 200 day moving average price of $44.92. Sonoco Products has a twelve month low of $39.13 and a twelve month high of $53.69. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 0.70 and a beta of 0.68. The company has a quick ratio of 0.72, a current ratio of 0.92 and a debt-to-equity ratio of 1.14.

Sonoco Products (NYSE:SON - Get Free Report) last announced its quarterly earnings data on Wednesday, June 22nd. The industrial products company reported $1.00 earnings per share for the quarter. The company had revenue of $1.35 billion for the quarter. Sonoco Products had a return on equity of 20.49% and a net margin of 8.82%. Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. Research analysts predict that Sonoco Products will post 6.1 earnings per share for the current year.

Hedge Funds Weigh In On Sonoco Products

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in 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 during the period. Dimensional Fund Advisors LP lifted its stake in 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 during the period. Nordea Investment Management AB lifted its stake in 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 during the period. Bank of America Corp DE lifted its stake in 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 during the period. Finally, Earnest Partners LLC lifted its stake in 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 during the period. Institutional investors and hedge funds own 77.69% of the company's stock.

Sonoco Products Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.