Sonoco Products (NYSE:SON) Price Target Lowered to $57.00 at Truist Financial

Key Points

• Truist Financial has lowered its price target for Sonoco Products from $58.00 to $57.00, maintaining a "buy" rating, indicating a potential upside of 42.89% from the current price.
• Other analysts, including Citigroup and UBS Group, also reduced their price targets, with Citigroup now at $55.00 and UBS at $46.00, contributing to a consensus rating of "Moderate Buy" with an average price target of $55.13.
• Sonoco Products' stock is currently trading around $39.89, with a market capitalization of $3.93 billion and a P/E ratio of 7.13.

Sonoco Products (NYSE:SON - Get Free Report) had its price objective cut by research analysts at Truist Financial from $58.00 to $57.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Truist Financial's price objective would indicate a potential upside of 42.89% from the company's current price.

A number of other research analysts also recently issued reports on the company. Citigroup cut their price objective 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. UBS Group lowered their price target on shares of Sonoco Products from $50.00 to $46.00 and set a "neutral" rating for the company in a report on Monday, October 6th. Weiss Ratings restated a "hold (c-)" rating on shares of Sonoco Products in a report on Wednesday, October 8th. Bank of America reiterated a "neutral" rating and set a $56.00 target price on shares of Sonoco Products in a research report on Thursday. Finally, Raymond James Financial lifted their target price on Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Sonoco Products has a consensus rating of "Moderate Buy" and a consensus price target of $55.13.

Sonoco Products Stock Performance

SON traded up $0.28 on Monday, hitting $39.89. The company's stock had a trading volume of 106,521 shares, compared to its average volume of 887,833. Sonoco Products has a 12 month low of $39.46 and a 12 month high of $55.33. The company's 50 day simple moving average is $45.39 and its 200-day simple moving average is $45.25. The company has a quick ratio of 0.72, a current ratio of 1.25 and a debt-to-equity ratio of 1.53. The firm has a market cap of $3.93 billion, a P/E ratio of 7.13, a price-to-earnings-growth ratio of 0.65 and a beta of 0.68.

Sonoco Products (NYSE:SON - Get Free Report) last released its earnings results 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 during the quarter. Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%. Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. Analysts forecast that Sonoco Products will post 6.1 EPS for the current year.

Institutional Trading of Sonoco Products

Several institutional investors have recently modified their holdings of SON. ST Germain D J Co. Inc. acquired a new stake in Sonoco Products during the 2nd quarter worth $26,000. TD Waterhouse Canada Inc. acquired a new position in shares of Sonoco Products during the 2nd quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Sonoco Products by 508.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company's stock worth $43,000 after purchasing an additional 752 shares during the last quarter. Allworth Financial LP boosted its stake in Sonoco Products by 152.0% during the first quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock worth $50,000 after buying an additional 646 shares during the last quarter. Finally, SouthState Corp boosted its stake in Sonoco Products by 439.1% during the second quarter. SouthState Corp now owns 1,240 shares of the industrial products company's stock worth $54,000 after buying an additional 1,010 shares during the last quarter. 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.

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