Sonoco Products (NYSE:SON) Given New $46.00 Price Target at UBS Group

Key Points

• UBS Group has lowered its price target for Sonoco Products from $50.00 to $46.00, maintaining a "neutral" rating on the stock, suggesting a potential upside of 7.16% from the previous close.
• Other analysts have varied opinions, with Raymond James setting a new target at $55.00 (outperform rating) and Truist Financial at $58.00 (buy rating), while Weiss Ratings reiterated a "hold" assessment.
• Sonoco's recent quarterly earnings were $1.37 per share, missing estimates by $0.07, though revenue was up 17.7% year-over-year, indicating ongoing growth despite the earnings miss.

Sonoco Products (NYSE:SON - Get Free Report) had its target price dropped by stock analysts at UBS Group from $50.00 to $46.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the industrial products company's stock. UBS Group's target price suggests a potential upside of 7.16% from the company's previous close.

A number of other research analysts also recently weighed in on the company. Raymond James Financial lifted their price target on Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Truist Financial lifted their price target on Sonoco Products from $53.00 to $58.00 and gave the company a "buy" rating in a report on Friday, July 25th. Citigroup lowered their price target on Sonoco Products from $56.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, September 29th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Sonoco Products in a report on Saturday, September 27th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Sonoco Products currently has an average rating of "Moderate Buy" and a consensus target price of $57.13.

Sonoco Products Price Performance

Shares of NYSE SON traded down $0.40 during mid-day trading on Monday, reaching $42.93. The company had a trading volume of 282,439 shares, compared to its average volume of 881,381. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.53. The stock has a market cap of $4.23 billion, a PE ratio of 7.69, a P/E/G ratio of 0.58 and a beta of 0.68. The company has a 50-day moving average price of $45.84 and a two-hundred day moving average price of $45.44. Sonoco Products has a 1-year low of $39.46 and a 1-year high of $55.33.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share for the quarter, missing analysts' consensus estimates of $1.44 by ($0.07). Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. The business's quarterly 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. On average, equities analysts anticipate that Sonoco Products will post 6.1 earnings per share for the current year.

Institutional Trading of Sonoco Products

Several large investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Sonoco Products by 0.3% during the 2nd quarter. State Street Corp now owns 4,470,449 shares of the industrial products company's stock worth $194,733,000 after acquiring an additional 13,161 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sonoco Products by 14.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,591,263 shares of the industrial products company's stock worth $169,646,000 after acquiring an additional 450,792 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Sonoco Products by 70.1% during the 2nd quarter. Nordea Investment Management AB now owns 2,827,569 shares of the industrial products company's stock worth $122,914,000 after purchasing an additional 1,164,849 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Sonoco Products by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 2,804,621 shares of the industrial products company's stock worth $122,169,000 after purchasing an additional 162,262 shares during the last quarter. Finally, Earnest Partners LLC lifted its position in shares of Sonoco Products by 2.3% during the 1st quarter. Earnest Partners LLC now owns 2,655,347 shares of the industrial products company's stock worth $125,439,000 after purchasing an additional 60,746 shares during the last quarter. Institutional investors 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.

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