Sonoco Products (NYSE:SON) Stock Rating Lowered by Bank of America

Sonoco Products (NYSE:SON) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a report released on Thursday, MarketBeat reports. They currently have a $60.00 price target on the industrial products company’s stock. Bank of America‘s target price suggests a potential upside of 9.71% from the company’s previous close.

Several other analysts have also commented on the stock. Truist Financial raised their price target on shares of Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Citigroup upped their price target on shares of Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings upgraded Sonoco Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 26th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $60.78.

Sonoco Products Trading Up 1.1%

Sonoco Products stock opened at $54.69 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.55 and a debt-to-equity ratio of 0.97. Sonoco Products has a 12 month low of $38.65 and a 12 month high of $60.67. The stock’s 50 day simple moving average is $56.67 and its two-hundred day simple moving average is $53.76. The firm has a market cap of $5.41 billion, a PE ratio of 8.69, a P/E/G ratio of 1.25 and a beta of 0.36.

Sonoco Products (NYSE:SON) last posted its earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.04. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the firm earned $1.37 EPS. The business’s quarterly revenue was down 1.3% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Analysts anticipate that Sonoco Products will post 5.8 earnings per share for the current year.

Institutional Trading of Sonoco Products

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Sonoco Products during the second quarter worth about $657,016,000. LSV Asset Management grew its stake in shares of Sonoco Products by 95.7% in the 4th quarter. LSV Asset Management now owns 1,563,390 shares of the industrial products company’s stock valued at $68,226,000 after buying an additional 764,590 shares during the period. UBS Group AG increased its holdings in shares of Sonoco Products by 57.8% during the 4th quarter. UBS Group AG now owns 303,784 shares of the industrial products company’s stock worth $13,257,000 after buying an additional 111,295 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Sonoco Products by 18.6% during the 4th quarter. Natixis Advisors LLC now owns 326,547 shares of the industrial products company’s stock worth $14,251,000 after buying an additional 51,273 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in shares of Sonoco Products during the 4th quarter valued at approximately $7,774,000. 77.69% of the stock is owned by institutional investors and hedge funds.

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.