Bank of America Issues Positive Forecast for Sonoco Products (NYSE:SON) Stock Price

Sonoco Products (NYSE:SON) had its price target upped by analysts at Bank of America from $65.00 to $69.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price objective would indicate a potential upside of 29.89% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Truist Financial reiterated a “buy” rating and set a $65.00 price objective (down from $68.00) on shares of Sonoco Products in a research note on Tuesday, April 28th. Citigroup upped their target price on shares of Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Robert W. Baird lowered their price objective on Sonoco Products from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Wall Street Zen lowered shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, UBS Group decreased their target price on shares of Sonoco Products from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sonoco Products presently has an average rating of “Hold” and an average target price of $61.44.

Sonoco Products Trading Down 1.0%

SON traded down $0.53 on Tuesday, reaching $53.12. 236,705 shares of the company’s stock were exchanged, compared to its average volume of 1,176,609. Sonoco Products has a twelve month low of $38.65 and a twelve month high of $58.44. The company’s 50 day moving average is $51.25 and its 200-day moving average is $51.32. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.54 and a current ratio of 0.96. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 5.21, a PEG ratio of 1.17 and a beta of 0.37.

Sonoco Products (NYSE:SON) last posted 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). The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.88 billion. Sonoco Products had a net margin of 13.57% and a return on equity of 16.50%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities analysts predict that Sonoco Products will post 5.81 earnings per share for the current year.

Insider Activity at Sonoco Products

In other news, CFO Paul Joachimczyk acquired 8,058 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were purchased at an average cost of $49.64 per share, for a total transaction of $399,999.12. Following the transaction, the chief financial officer owned 28,558 shares of the company’s stock, valued at approximately $1,417,619.12. This represents a 39.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James A. Harrell III acquired 6,753 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average price of $50.37 per share, with a total value of $340,148.61. Following the completion of the transaction, the insider owned 10,070 shares of the company’s stock, valued at approximately $507,225.90. This trade represents a 203.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sonoco Products

A number of institutional investors have recently made changes to their positions in the stock. Baker Ellis Asset Management LLC grew its holdings in shares of Sonoco Products by 3.9% in the 1st quarter. Baker Ellis Asset Management LLC now owns 5,307 shares of the industrial products company’s stock valued at $287,000 after buying an additional 201 shares during the period. Powell Investment Advisors LLC increased its holdings in shares of Sonoco Products by 1.0% in the fourth quarter. Powell Investment Advisors LLC now owns 20,718 shares of the industrial products company’s stock worth $904,000 after acquiring an additional 203 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Sonoco Products by 8.6% in the fourth quarter. IFP Advisors Inc now owns 2,996 shares of the industrial products company’s stock worth $131,000 after acquiring an additional 237 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Sonoco Products by 11.2% during the first quarter. EverSource Wealth Advisors LLC now owns 2,476 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 249 shares during the period. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Sonoco Products by 77.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 258 shares in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Company Profile

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.