Truist Financial Reaffirms Buy Rating for Sonoco Products (NYSE:SON)

Sonoco Products (NYSE:SON)‘s stock had its “buy” rating reaffirmed by Truist Financial in a research report issued on Tuesday,Benzinga reports. They presently have a $65.00 target price on the industrial products company’s stock, down from their prior target price of $68.00. Truist Financial’s price target points to a potential upside of 29.64% from the stock’s previous close.

Several other brokerages have also weighed in on SON. Wells Fargo & Company decreased their target price on shares of Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, March 20th. Wall Street Zen upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Zacks Research upgraded shares of Sonoco Products from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. UBS Group reduced their price target on shares of Sonoco Products from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, April 10th. Finally, Raymond James Financial restated a “market perform” rating on shares of Sonoco Products in a research report on Friday, March 6th. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.11.

Sonoco Products Price Performance

Shares of Sonoco Products stock traded down $0.11 during trading on Tuesday, hitting $50.14. 91,076 shares of the company’s stock traded hands, compared to its average volume of 1,105,251. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.54. The firm’s fifty day moving average price is $54.22 and its 200 day moving average price is $47.55. Sonoco Products has a twelve month low of $38.65 and a twelve month high of $58.44. The company has a market cap of $4.96 billion, a PE ratio of 4.92, a PEG ratio of 1.01 and a beta of 0.50.

Sonoco Products (NYSE:SON) last issued its earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.37). Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm posted $1.38 earnings per share. Sonoco Products’s revenue was down 1.9% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Analysts forecast that Sonoco Products will post 5.83 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Paul Joachimczyk bought 8,058 shares of the stock in a transaction on Friday, April 24th. The stock was purchased at an average price of $49.64 per share, with a total value of $399,999.12. Following the completion of the purchase, the chief financial officer owned 28,558 shares of the company’s stock, valued at approximately $1,417,619.12. This trade represents a 39.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ernest D. Haynes III sold 1,581 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $56.39, for a total transaction of $89,152.59. Following the completion of the sale, the insider directly owned 9,377 shares of the company’s stock, valued at $528,769.03. The trade was a 14.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Sonoco Products

Large investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. increased its position in shares of Sonoco Products by 77.7% during the fourth quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 258 shares in the last quarter. Cornerstone Planning Group LLC bought a new stake in shares of Sonoco Products during the third quarter worth $29,000. LRI Investments LLC bought a new stake in shares of Sonoco Products during the fourth quarter worth $29,000. True Wealth Design LLC increased its position in shares of 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 acquiring an additional 471 shares in the last quarter. Finally, Ameriflex Group Inc. increased its position in shares of Sonoco Products by 1,263.6% during the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 834 shares in 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.