Sonoco Products (NYSE:SON) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Sonoco Products (NYSE:SON) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $60.17.

SON has been the topic of a number of research reports. Bank of America upped their target price on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company lowered their target price on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. Truist Financial upped their target price on Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Robert W. Baird lowered their target price on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, Citigroup lowered their target price on Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

Sonoco Products Price Performance

Shares of SON opened at $47.62 on Wednesday. Sonoco Products has a 52-week low of $45.93 and a 52-week high of $61.73. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. The business’s 50 day moving average price is $48.83 and its two-hundred day moving average price is $51.28. The firm has a market cap of $4.68 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 0.76 and a beta of 0.67.

Insider Buying and Selling at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total transaction of $191,800.00. Following the completion of the transaction, the director now owns 16,065 shares in the company, valued at approximately $770,316.75. This represents a 19.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Kennebec Savings Bank bought a new position in shares of Sonoco Products during the 3rd quarter worth $27,000. Capital Performance Advisors LLP purchased a new stake in Sonoco Products during the 3rd quarter worth about $33,000. Wilmington Savings Fund Society FSB purchased a new stake in Sonoco Products during the 3rd quarter worth about $71,000. Principal Securities Inc. lifted its holdings in Sonoco Products by 35.0% during the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 351 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings in Sonoco Products by 311.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 1,297 shares in 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.