UBS started coverage on shares of Sonoco (NYSE:SON) in a research report sent to investors on Friday morning, www.benzinga.com reports. The brokerage issued a buy rating and a $55.00 price objective on the industrial products company’s stock.

A number of other brokerages also recently weighed in on SON. Zacks Investment Research raised shares of Sonoco from a hold rating to a buy rating and set a $61.00 target price for the company in a research note on Friday, January 12th. Barclays raised shares of Sonoco from an underweight rating to an equal weight rating and raised their target price for the company from $49.00 to $55.00 in a research note on Friday, December 15th. TheStreet downgraded shares of Sonoco from a b rating to a c+ rating in a research report on Friday, February 16th. Bank of America downgraded shares of Sonoco from a buy rating to a neutral rating and set a $59.00 price target for the company. in a research report on Monday, April 2nd. Finally, Vertical Research raised shares of Sonoco from a hold rating to a buy rating in a research report on Friday, March 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Sonoco presently has a consensus rating of Hold and an average target price of $53.88.

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Shares of NYSE SON opened at $49.86 on Friday. Sonoco has a fifty-two week low of $46.55 and a fifty-two week high of $55.77. The company has a market cap of $4,994.27, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 3.36 and a beta of 1.12. The company has a quick ratio of 1.09, a current ratio of 1.56 and a debt-to-equity ratio of 0.74.

Sonoco (NYSE:SON) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). Sonoco had a net margin of 3.48% and a return on equity of 16.63%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the business posted $0.62 EPS. Sonoco’s revenue for the quarter was up 13.7% on a year-over-year basis. sell-side analysts anticipate that Sonoco will post 3.2 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Green Square Capital LLC increased its position in shares of Sonoco by 233.9% during the fourth quarter. Green Square Capital LLC now owns 14,033 shares of the industrial products company’s stock valued at $746,000 after acquiring an additional 9,830 shares in the last quarter. Colonial Trust Advisors bought a new stake in shares of Sonoco during the fourth quarter valued at approximately $257,000. Xact Kapitalforvaltning AB bought a new stake in shares of Sonoco during the fourth quarter valued at approximately $439,000. MetLife Investment Advisors LLC bought a new stake in shares of Sonoco during the fourth quarter valued at approximately $3,342,000. Finally, Glenmede Trust Co. NA increased its position in shares of Sonoco by 14.5% during the fourth quarter. Glenmede Trust Co. NA now owns 22,391 shares of the industrial products company’s stock valued at $1,189,000 after acquiring an additional 2,828 shares in the last quarter. 70.83% of the stock is owned by institutional investors.

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About Sonoco

Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.

Analyst Recommendations for Sonoco (NYSE:SON)

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