Sonoco Products (NYSE:SON) Price Target Lowered to $55.00 at Citigroup

Key Points

• Citigroup has lowered its price target for Sonoco Products from $56.00 to $55.00, maintaining a "buy" rating, which indicates a potential upside of 25.28% from the current price.
• Several other analysts have also adjusted their price targets, with UBS Group elevating theirs to $50.00 and Raymond James increasing theirs to $55.00, contributing to an overall average price target of $57.63.
• The company recently reported quarterly earnings, missing the consensus EPS estimate of $1.44, with an actual EPS of $1.37, despite a year-over-year revenue increase of 17.7%.

Sonoco Products (NYSE:SON - Get Free Report) had its target price reduced by analysts at Citigroup from $56.00 to $55.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the industrial products company's stock. Citigroup's price target indicates a potential upside of 25.28% from the company's current price.

Several other research analysts have also commented on the company. UBS Group lifted their price target on Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Raymond James Financial boosted their target price on Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, Truist Financial boosted their target price on Sonoco Products from $53.00 to $58.00 and gave the company a "buy" rating in a report on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Sonoco Products currently has an average rating of "Moderate Buy" and an average price target of $57.63.

Sonoco Products Trading Down 0.5%

SON opened at $43.90 on Monday. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 7.87, a price-to-earnings-growth ratio of 0.59 and a beta of 0.70. Sonoco Products has a 52 week low of $39.46 and a 52 week high of $55.33. The business's 50 day moving average is $46.32 and its two-hundred day moving average is $45.59. The company has a quick ratio of 0.72, a current ratio of 1.25 and a debt-to-equity ratio of 1.53.

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

Institutional Trading of Sonoco Products

Institutional investors have recently bought and sold shares of the company. Beverly Hills Private Wealth LLC grew its stake in Sonoco Products by 4.1% in the first quarter. Beverly Hills Private Wealth LLC now owns 5,669 shares of the industrial products company's stock valued at $268,000 after purchasing an additional 224 shares in the last quarter. CW Advisors LLC grew its stake in Sonoco Products by 1.5% in the first quarter. CW Advisors LLC now owns 14,791 shares of the industrial products company's stock valued at $699,000 after purchasing an additional 224 shares in the last quarter. Federated Hermes Inc. grew its stake in Sonoco Products by 2.5% in the first quarter. Federated Hermes Inc. now owns 9,304 shares of the industrial products company's stock valued at $440,000 after purchasing an additional 230 shares in the last quarter. Richardson Financial Services Inc. grew its stake in Sonoco Products by 13.2% in the second quarter. Richardson Financial Services Inc. now owns 2,185 shares of the industrial products company's stock valued at $100,000 after purchasing an additional 255 shares in the last quarter. Finally, State of Michigan Retirement System grew its stake in Sonoco Products by 1.3% in the first quarter. State of Michigan Retirement System now owns 23,551 shares of the industrial products company's stock valued at $1,113,000 after purchasing an additional 300 shares in the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

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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