Sonoco Products’ (SON) “Buy” Rating Reiterated at Truist Financial

Sonoco Products (NYSE:SON)‘s stock had its “buy” rating restated by investment analysts at Truist Financial in a report released on Friday,Benzinga reports. They currently have a $69.00 price target on the industrial products company’s stock, up from their previous price target of $54.00. Truist Financial’s target price suggests a potential upside of 22.61% from the stock’s current price.

Several other research firms also recently weighed in on SON. Zacks Research raised Sonoco Products from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Bank of America upgraded Sonoco Products from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $60.00 in a research report on Monday, January 5th. Wells Fargo & Company boosted their target price on shares of Sonoco Products from $47.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sonoco Products in a research note on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Sonoco Products presently has an average rating of “Hold” and a consensus price target of $62.63.

Sonoco Products Price Performance

NYSE SON traded up $0.21 during trading hours on Friday, reaching $56.28. The company’s stock had a trading volume of 135,434 shares, compared to its average volume of 1,070,371. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 1.05. The company’s 50-day moving average is $47.60 and its two-hundred day moving average is $44.73. Sonoco Products has a fifty-two week low of $38.65 and a fifty-two week high of $58.44. The stock has a market cap of $5.55 billion, a PE ratio of 5.60, a PEG ratio of 1.15 and a beta of 0.54.

Sonoco Products (NYSE:SON) last announced its earnings results on Monday, February 16th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Sonoco Products had a net margin of 13.34% and a return on equity of 18.52%. The firm’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 earnings per share. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Analysts forecast that Sonoco Products will post 6.1 EPS for the current year.

Hedge Funds Weigh In On Sonoco Products

Large investors have recently modified their holdings of the company. Powell Investment Advisors LLC lifted its stake in shares of Sonoco Products by 1.0% in the 4th quarter. Powell Investment Advisors LLC now owns 20,718 shares of the industrial products company’s stock valued at $904,000 after purchasing an additional 203 shares in the last quarter. IFP Advisors Inc lifted its position in Sonoco Products by 8.6% during the fourth quarter. IFP Advisors Inc now owns 2,996 shares of the industrial products company’s stock valued at $131,000 after buying an additional 237 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in 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 buying an additional 258 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Sonoco Products by 5.3% in the third quarter. CIBC Private Wealth Group LLC now owns 6,006 shares of the industrial products company’s stock worth $259,000 after acquiring an additional 304 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its stake in shares of Sonoco Products by 2.8% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 12,742 shares of the industrial products company’s stock valued at $549,000 after acquiring an additional 345 shares during the period. 77.69% of the stock is currently owned by hedge funds and other 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.