Sonoco Products (NYSE:SON) Given “Neutral” Rating at DA Davidson

Sonoco Products (NYSE:SON)‘s stock had its “neutral” rating reiterated by equities researchers at DA Davidson in a research note issued on Friday, Zacks.com reports. DA Davidson also issued estimates for Sonoco Products’ Q1 2020 earnings at $0.86 EPS and FY2021 earnings at $3.79 EPS.

Other equities analysts have also issued reports about the company. ValuEngine raised Sonoco Products from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Vertical Research raised Sonoco Products from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Robert W. Baird lowered Sonoco Products from an “outperform” rating to a “neutral” rating and set a $65.00 price objective for the company. in a report on Tuesday, January 7th. KeyCorp reissued a “hold” rating on shares of Sonoco Products in a report on Thursday. Finally, Vertical Group raised Sonoco Products from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $61.20.

Shares of SON stock opened at $56.80 on Friday. Sonoco Products has a 12-month low of $55.12 and a 12-month high of $66.57. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 3.49 and a beta of 0.93. The business has a 50 day simple moving average of $58.97 and a 200 day simple moving average of $58.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.20 and a quick ratio of 0.82.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. Sonoco Products had a return on equity of 19.45% and a net margin of 5.43%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company posted $0.84 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Sonoco Products will post 3.67 EPS for the current fiscal year.

In other Sonoco Products news, VP Harold G. Cummings III sold 532 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $60.52, for a total transaction of $32,196.64. Following the completion of the transaction, the vice president now directly owns 2,832 shares of the company’s stock, valued at approximately $171,392.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP James A. Harrell III sold 825 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $60.00, for a total value of $49,500.00. Following the transaction, the vice president now directly owns 16,413 shares of the company’s stock, valued at $984,780. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,858 shares of company stock valued at $112,759. 1.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SON. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Sonoco Products during the 3rd quarter valued at $34,000. Gradient Investments LLC acquired a new stake in shares of Sonoco Products during the 4th quarter valued at $49,000. Quest Capital Management Inc. ADV acquired a new stake in shares of Sonoco Products during the 3rd quarter valued at $56,000. PSI Advisors LLC acquired a new stake in shares of Sonoco Products during the 4th quarter valued at $88,000. Finally, Retirement Network acquired a new stake in shares of Sonoco Products during the 4th quarter valued at $98,000. 72.25% of the stock is owned by hedge funds and other institutional investors.

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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