Sonoco Products (NYSE:SON) Given New $68.00 Price Target at Truist Financial

Sonoco Products (NYSE:SON) had its price objective raised by research analysts at Truist Financial from $64.00 to $68.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective indicates a potential upside of 17.60% from the company’s current price.

SON has been the topic of several other research reports. Wall Street Zen lowered Sonoco Products from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Robert W. Baird reduced their price objective on shares of Sonoco Products from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Argus raised shares of Sonoco Products to a “hold” rating in a research report on Monday, April 20th. UBS Group lowered 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 note on Friday, April 10th. Finally, Weiss Ratings downgraded shares of Sonoco Products from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Sonoco Products currently has an average rating of “Hold” and an average target price of $61.78.

Sonoco Products Trading Up 2.7%

Shares of Sonoco Products stock traded up $1.50 during mid-day trading on Friday, hitting $57.82. The stock had a trading volume of 443,212 shares, compared to its average volume of 1,185,117. The firm has a 50-day moving average of $51.93 and a two-hundred day moving average of $51.97. The firm has a market cap of $5.72 billion, a P/E ratio of 9.19, a price-to-earnings-growth ratio of 1.20 and a beta of 0.37. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Sonoco Products has a 12-month low of $38.65 and a 12-month high of $58.44.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.47 by $0.04. Sonoco Products had a net margin of 8.41% and a return on equity of 16.60%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Sell-side analysts forecast that Sonoco Products will post 5.79 earnings per share for the current year.

Insider Activity

In other Sonoco Products news, insider James A. Harrell III acquired 6,753 shares of the stock in a transaction dated Monday, April 27th. The stock was acquired at an average price of $50.37 per share, with a total value of $340,148.61. Following the completion of the purchase, the insider owned 10,070 shares in the company, valued at $507,225.90. This trade represents a 203.59% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Sonoco Products

Several institutional investors have recently modified their holdings of SON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Sonoco Products by 44.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company’s stock worth $2,319,000 after buying an additional 15,079 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Sonoco Products by 80.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company’s stock worth $9,755,000 after acquiring an additional 92,286 shares in the last quarter. Empowered Funds LLC increased its position in shares of Sonoco Products by 14.1% in the 1st quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company’s stock valued at $522,000 after purchasing an additional 1,364 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Sonoco Products by 87.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company’s stock valued at $25,754,000 after purchasing an additional 255,055 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Sonoco Products by 315.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,587 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 1,205 shares in the last quarter. Institutional investors and hedge funds 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.