Sonoco Products (NYSE:SON) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sonoco Products (NYSE:SON) from a hold rating to a buy rating in a report published on Saturday.

A number of other research analysts have also issued reports on the stock. Truist Financial raised their target price on shares of Sonoco Products from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Jefferies Financial Group lowered their price target on Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, January 21st. Bank of America raised Sonoco Products from a “neutral” rating to a “buy” rating and raised their target price for the company from $56.00 to $60.00 in a report on Monday, January 5th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 price target (down from $52.00) on shares of Sonoco Products in a research report on Tuesday, January 6th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $54.86.

Sonoco Products Stock Down 1.2%

Shares of SON stock opened at $50.73 on Friday. The stock’s 50 day simple moving average is $45.66 and its 200 day simple moving average is $44.31. Sonoco Products has a twelve month low of $38.65 and a twelve month high of $51.83. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 0.80 and a beta of 0.54.

Institutional Trading of Sonoco Products

Institutional investors and hedge funds have recently modified their holdings of the company. Allen Wealth Management LLC acquired a new position in shares of Sonoco Products in the 3rd quarter worth approximately $1,489,000. AlphaQuest LLC raised its position in Sonoco Products by 1,237.0% in the 3rd quarter. AlphaQuest LLC now owns 24,079 shares of the industrial products company’s stock valued at $1,038,000 after purchasing an additional 22,278 shares during the last quarter. Voya Investment Management LLC boosted its stake in Sonoco Products by 329.3% in the third quarter. Voya Investment Management LLC now owns 50,390 shares of the industrial products company’s stock worth $2,171,000 after purchasing an additional 38,653 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Sonoco Products during the third quarter worth $560,000. Finally, ARGA Investment Management LP acquired a new stake in shares of Sonoco Products in the third quarter valued at $2,116,000. 77.69% of the stock is currently owned by institutional investors.

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.