Wells Fargo & Company Issues Positive Forecast for Sonoco Products (NYSE:SON) Stock Price

Sonoco Products (NYSE:SON) had its price target raised by research analysts at Wells Fargo & Company from $47.00 to $60.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 3.65% from the company’s current price.

Several other brokerages have also recently commented on SON. Raymond James Financial set a $60.00 target price on shares of Sonoco Products in a report on Monday, January 5th. Bank of America raised Sonoco Products from a “neutral” rating to a “buy” rating and increased their price objective for the company from $56.00 to $60.00 in a report on Monday, January 5th. Robert W. Baird boosted their price objective on shares of Sonoco Products from $48.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Financial Group reduced their price target on Sonoco Products from $61.00 to $60.00 and set a “buy” rating for the company in a report on Friday, October 24th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.13.

Sonoco Products Trading Up 2.1%

SON stock traded up $1.17 during midday trading on Wednesday, hitting $57.89. 94,801 shares of the company’s stock were exchanged, compared to its average volume of 1,018,646. Sonoco Products has a one year low of $38.65 and a one year high of $57.83. The stock’s fifty day moving average price is $47.01 and its 200-day moving average price is $44.56. The company has a market cap of $5.71 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 0.80 and a beta of 0.54. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Monday, February 16th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.76 billion. Sonoco Products had a return on equity of 20.49% and a net margin of 8.82%.Sonoco Products’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.17 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Research analysts predict that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sonoco Products

Large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. boosted its holdings in shares of Sonoco Products by 77.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock worth $26,000 after buying an additional 258 shares in the last quarter. Cornerstone Planning Group LLC acquired a new position in Sonoco Products during the 3rd quarter worth approximately $29,000. LRI Investments LLC acquired a new stake in Sonoco Products in the fourth quarter valued at approximately $29,000. TD Waterhouse Canada Inc. bought a new stake in shares of Sonoco Products during the second quarter valued at approximately $30,000. Finally, True Wealth Design LLC raised its holdings in Sonoco Products by 172.5% during the third quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock worth $32,000 after buying an additional 471 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

About Sonoco Products

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.