Sonoco Products (NYSE:SON) was upgraded by research analysts at BMO Capital Markets from an “underperform” rating to a “market perform” rating in a note issued to investors on Friday, The Fly reports. The firm currently has a $56.00 price target on the industrial products company’s stock. BMO Capital Markets’ price objective suggests a potential downside of 3.46% from the stock’s previous close.

A number of other research firms have also recently commented on SON. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a research report on Thursday, July 18th. Bank of America cut shares of Sonoco Products from a “neutral” rating to an “underperform” rating in a research report on Friday, July 12th. ValuEngine cut shares of Sonoco Products from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Vertical Group raised shares of Sonoco Products from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Goldman Sachs Group cut shares of Sonoco Products from a “neutral” rating to a “sell” rating and set a $59.00 target price on the stock. in a research report on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Sonoco Products presently has an average rating of “Hold” and a consensus price target of $60.33.

Shares of SON stock opened at $58.01 on Friday. The company’s 50-day moving average price is $57.69 and its 200-day moving average price is $61.04. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.64. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 3.49 and a beta of 0.89. Sonoco Products has a twelve month low of $50.30 and a twelve month high of $66.57.

Sonoco Products (NYSE:SON) last posted its earnings results on Thursday, October 17th. The industrial products company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.06. Sonoco Products had a net margin of 5.99% and a return on equity of 20.08%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. Sonoco Products’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities research analysts predict that Sonoco Products will post 3.54 EPS for the current year.

In other Sonoco Products news, VP Marcy J. Thompson sold 1,182 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $61.37, for a total transaction of $72,539.34. Following the sale, the vice president now directly owns 18,938 shares in the company, valued at $1,162,225.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. APG Asset Management N.V. increased its stake in shares of Sonoco Products by 79.4% during the second quarter. APG Asset Management N.V. now owns 1,960,200 shares of the industrial products company’s stock worth $112,469,000 after buying an additional 867,400 shares during the period. Invesco Ltd. increased its stake in shares of Sonoco Products by 12.1% during the second quarter. Invesco Ltd. now owns 4,275,629 shares of the industrial products company’s stock worth $279,369,000 after buying an additional 460,426 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Sonoco Products during the second quarter worth approximately $16,280,000. BlackRock Inc. increased its stake in shares of Sonoco Products by 1.8% during the second quarter. BlackRock Inc. now owns 11,511,630 shares of the industrial products company’s stock worth $752,172,000 after buying an additional 203,903 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Sonoco Products by 30.6% during the second quarter. Wells Fargo & Company MN now owns 771,886 shares of the industrial products company’s stock worth $50,435,000 after buying an additional 181,009 shares during the period. Institutional investors own 73.60% of the company’s stock.

Sonoco Products Company Profile

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.

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Analyst Recommendations for Sonoco Products (NYSE:SON)

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