Truist Financial Reaffirms Buy Rating for Sonoco Products (NYSE:SON)

Key Points

• Truist Financial reaffirmed its Buy rating on Sonoco but cut the price target to $65 from $68, implying roughly a 29.6% upside from the current share price.
• Sonoco missed Q1 estimates, reporting $1.20 EPS versus $1.57 expected and $1.68B revenue versus $1.88B expected, and set FY2026 guidance of $5.80–$6.20 EPS (analysts average 5.83).
• The analyst consensus is a Hold (five Buys, seven Holds) with a $60.11 consensus target; the stock trades around $50 with a PE of ~4.9, and insiders include the CFO who purchased shares at about $49.64.

Sonoco Products (NYSE:SON - Get Free Report)'s stock had its "buy" rating restated by Truist Financial in a research report issued on Tuesday,Benzinga reports. They currently have a $65.00 target price on the industrial products company's stock, down from their prior target price of $68.00. Truist Financial's price target suggests a potential upside of 29.64% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. Raymond James Financial reiterated a "market perform" rating on shares of Sonoco Products in a research note on Friday, March 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Sonoco Products in a research note on Wednesday, April 1st. They issued a "buy" rating and a $63.00 price target on the stock. Zacks Research upgraded shares of Sonoco Products from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 6th. Wells Fargo & Company dropped their price target on shares of Sonoco Products from $60.00 to $56.00 and set an "equal weight" rating on the stock in a research note on Friday, March 20th. Finally, Argus upgraded shares of Sonoco Products to a "hold" rating in a research note on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $60.11.

Sonoco Products Stock Performance

SON traded down $0.11 on Tuesday, hitting $50.14. 91,076 shares of the company's stock were exchanged, compared to its average volume of 1,105,251. The firm has a market cap of $4.96 billion, a PE ratio of 4.92, a P/E/G ratio of 1.01 and a beta of 0.50. Sonoco Products has a twelve month low of $38.65 and a twelve month high of $58.44. The stock has a fifty day moving average of $54.22 and a two-hundred day moving average of $47.55. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.97.

Sonoco Products (NYSE:SON - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.37). The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 13.57%.Sonoco Products's revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. On average, research analysts anticipate that Sonoco Products will post 5.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ernest D. Haynes III sold 1,581 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $56.39, for a total value of $89,152.59. Following the completion of the transaction, the insider owned 9,377 shares of the company's stock, valued at approximately $528,769.03. This trade represents a 14.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Paul Joachimczyk acquired 8,058 shares of the firm's stock in a transaction that occurred on Friday, April 24th. The stock was purchased at an average cost of $49.64 per share, with a total value of $399,999.12. Following the purchase, the chief financial officer directly owned 28,558 shares in the company, valued at approximately $1,417,619.12. This trade represents a 39.31% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.98% of the company's stock.

Hedge Funds Weigh In On Sonoco Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SON. Baker Ellis Asset Management LLC raised its holdings in Sonoco Products by 3.9% in the 1st quarter. Baker Ellis Asset Management LLC now owns 5,307 shares of the industrial products company's stock worth $287,000 after acquiring an additional 201 shares during the period. Powell Investment Advisors LLC raised its holdings in Sonoco Products by 1.0% in the 4th quarter. Powell Investment Advisors LLC now owns 20,718 shares of the industrial products company's stock worth $904,000 after acquiring an additional 203 shares during the period. IFP Advisors Inc raised its holdings in Sonoco Products by 8.6% in the 4th quarter. IFP Advisors Inc now owns 2,996 shares of the industrial products company's stock worth $131,000 after acquiring an additional 237 shares during the period. SBI Securities Co. Ltd. raised its holdings in Sonoco Products by 77.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company's stock worth $26,000 after acquiring an additional 258 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in Sonoco Products by 5.2% in the 4th quarter. Hsbc Holdings PLC now owns 6,073 shares of the industrial products company's stock worth $265,000 after acquiring an additional 299 shares during the period. Institutional investors and hedge funds own 77.69% of the company's stock.

Sonoco Products Company Profile

Sonoco Products Company NYSE: SON is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.

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