KeyCorp Reiterates “Hold” Rating for Sonoco Products (SON)

Sonoco Products (NYSE:SON)‘s stock had its “hold” rating reissued by stock analysts at KeyCorp in a research note issued on Sunday.

SON has been the subject of a number of other reports. Zacks Investment Research cut shares of Sonoco Products from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Jefferies Group restated a “hold” rating and issued a $48.00 price target on shares of Sonoco Products in a report on Thursday, September 7th. Bank of America upgraded shares of Sonoco Products from an “underperform” rating to a “buy” rating and set a $56.00 price target for the company in a report on Wednesday, September 6th. Barclays raised their price target on shares of Sonoco Products from $48.00 to $49.00 and gave the stock an “underweight” rating in a report on Friday, October 20th. Finally, Robert W. Baird restated a “buy” rating and issued a $60.00 price target on shares of Sonoco Products in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $52.00.

Shares of Sonoco Products (NYSE:SON) opened at $55.45 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 0.74. The company has a market cap of $5,530.00, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 4.12 and a beta of 1.15. Sonoco Products has a twelve month low of $47.10 and a twelve month high of $55.77.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Thursday, October 19th. The industrial products company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Sonoco Products had a net margin of 5.63% and a return on equity of 16.40%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company posted $0.72 earnings per share. equities analysts predict that Sonoco Products will post 2.8 EPS for the current fiscal year.

In other news, CFO Barry L. Saunders sold 5,645 shares of Sonoco Products stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $52.39, for a total transaction of $295,741.55. Following the completion of the transaction, the chief financial officer now directly owns 60,455 shares in the company, valued at $3,167,237.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Vicki B. Arthur sold 727 shares of Sonoco Products stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $53.00, for a total transaction of $38,531.00. Following the transaction, the senior vice president now owns 33,998 shares of the company’s stock, valued at $1,801,894. The disclosure for this sale can be found here. Insiders have sold 6,937 shares of company stock valued at $363,088 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Sonoco Products by 0.3% during the second quarter. Vanguard Group Inc. now owns 9,545,609 shares of the industrial products company’s stock valued at $490,835,000 after purchasing an additional 29,532 shares in the last quarter. State Street Corp lifted its position in shares of Sonoco Products by 1.2% during the second quarter. State Street Corp now owns 6,544,078 shares of the industrial products company’s stock valued at $336,491,000 after purchasing an additional 77,004 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Sonoco Products by 7.4% during the second quarter. Wells Fargo & Company MN now owns 3,662,913 shares of the industrial products company’s stock valued at $188,346,000 after purchasing an additional 251,027 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Sonoco Products by 15.7% during the third quarter. American Century Companies Inc. now owns 2,579,422 shares of the industrial products company’s stock valued at $130,132,000 after purchasing an additional 349,455 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Sonoco Products by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 1,363,962 shares of the industrial products company’s stock valued at $68,811,000 after purchasing an additional 13,158 shares in the last quarter. Hedge funds and other institutional investors own 72.27% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of United States & international trademark and copyright laws. The legal version of this news story can be viewed at https://www.com-unik.info/2017/12/05/keycorp-reiterates-hold-rating-for-sonoco-products-son.html.

Sonoco Products Company Profile

Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.

Analyst Recommendations for Sonoco Products (NYSE:SON)

What are top analysts saying about Sonoco Products Co? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Sonoco Products Co and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit