Bank of America downgraded shares of Sonoco Products (NYSE:SON) from a neutral rating to an underperform rating in a report released on Friday, BenzingaRatingsTable reports.

Other research analysts have also recently issued research reports about the company. Argus upgraded Sonoco Products from a hold rating to a buy rating and set a $68.00 price target for the company in a research report on Wednesday, April 24th. Vertical Research cut Sonoco Products from a hold rating to a sell rating in a research report on Tuesday, April 16th. ValuEngine upgraded YY from a sell rating to a hold rating in a research report on Friday, June 7th. KeyCorp reiterated a hold rating on shares of Sonoco Products in a research report on Sunday, April 21st. Finally, Wells Fargo & Co set a $58.00 price objective on Sonoco Products and gave the stock a hold rating in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $59.33.

NYSE:SON opened at $65.16 on Friday. The business has a fifty day simple moving average of $64.63. The stock has a market capitalization of $6.52 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 3.90 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.36 and a quick ratio of 0.91. Sonoco Products has a 1 year low of $50.30 and a 1 year high of $66.57.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, April 18th. The industrial products company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. Sonoco Products had a return on equity of 19.57% and a net margin of 5.76%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Sell-side analysts anticipate that Sonoco Products will post 3.58 EPS for the current fiscal year.

In related news, VP Roger P. Schrum sold 812 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $62.25, for a total transaction of $50,547.00. Following the sale, the vice president now directly owns 7,938 shares in the company, valued at approximately $494,140.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP R. Howard Coker sold 6,484 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $61.94, for a total value of $401,618.96. Following the sale, the senior vice president now owns 215,108 shares in the company, valued at $13,323,789.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,381 shares of company stock worth $758,537. 1.30% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Rowland & Co. Investment Counsel ADV increased its holdings in shares of Sonoco Products by 48.5% in the 1st quarter. Rowland & Co. Investment Counsel ADV now owns 60,469 shares of the industrial products company’s stock valued at $3,721,000 after acquiring an additional 19,749 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Sonoco Products by 0.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 142,037 shares of the industrial products company’s stock worth $8,740,000 after acquiring an additional 1,308 shares during the period. Two Sigma Advisers LP boosted its position in Sonoco Products by 94.2% during the 4th quarter. Two Sigma Advisers LP now owns 35,400 shares of the industrial products company’s stock worth $1,881,000 after acquiring an additional 17,176 shares during the period. Pratt Collard Advisory Partners LLC acquired a new position in Sonoco Products during the 1st quarter worth $229,000. Finally, Geode Capital Management LLC boosted its position in Sonoco Products by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 984,079 shares of the industrial products company’s stock worth $52,284,000 after acquiring an additional 61,583 shares during the period. Institutional investors and hedge funds own 73.84% of the company’s stock.

About Sonoco Products

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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