Sonoco Products (NYSE:SON) Receives Neutral Rating from Bank of America

Key Points

• Bank of America has reaffirmed a "neutral" rating for Sonoco Products, with a target price of $56.00, suggesting a potential upside of 33.37% from recent closing prices.
• Sonoco Products recently reported earnings of $1.37 per share for the last quarter, falling short of analysts' estimates of $1.44, alongside a revenue of $1.91 billion.
• The stock saw a 1.5% decline recently and is currently priced at $41.99, influenced by various adjustments in target prices from other brokerages.

Sonoco Products (NYSE:SON - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities researchers at Bank of America in a report issued on Thursday, MarketBeat reports. They presently have a $56.00 target price on the industrial products company's stock. Bank of America's target price would indicate a potential upside of 33.37% from the company's previous close.

Several other brokerages also recently weighed in on SON. Truist Financial upped their target price on Sonoco Products from $53.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. UBS Group reduced their price objective on shares of Sonoco Products from $50.00 to $46.00 and set a "neutral" rating for the company in a research report on Monday. Raymond James Financial increased their price objective on shares of Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Citigroup cut their target price on shares of 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, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Sonoco Products in a research note on Wednesday. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Sonoco Products presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.25.

Sonoco Products Stock Down 1.5%

SON opened at $41.99 on Thursday. The company has a fifty day moving average of $45.58 and a two-hundred day moving average of $45.37. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 7.58, a PEG ratio of 0.57 and a beta of 0.68. Sonoco Products has a fifty-two week low of $39.46 and a fifty-two week high of $55.33. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25.

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

Institutional Trading of Sonoco Products

Large investors have recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC raised its holdings in shares of Sonoco Products by 4.1% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 5,669 shares of the industrial products company's stock worth $268,000 after acquiring an additional 224 shares during the period. CW Advisors LLC increased its position in Sonoco Products by 1.5% during the first quarter. CW Advisors LLC now owns 14,791 shares of the industrial products company's stock worth $699,000 after purchasing an additional 224 shares during the last quarter. Federated Hermes Inc. raised its stake in Sonoco Products by 2.5% during the first quarter. Federated Hermes Inc. now owns 9,304 shares of the industrial products company's stock worth $440,000 after purchasing an additional 230 shares during the period. Richardson Financial Services Inc. boosted its holdings in Sonoco Products by 13.2% in the 2nd 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 during the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of Sonoco Products by 1.3% during the 1st quarter. State of Michigan Retirement System now owns 23,551 shares of the industrial products company's stock worth $1,113,000 after buying an additional 300 shares during the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

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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