Sonoco Products (NYSE:SON)‘s stock had its “hold” rating restated by analysts at KeyCorp in a research report issued to clients and investors on Thursday.
The analysts wrote, “We are slightly reducing our 2018 adj. EPS estimate to $3.34 from $3.37 (at the high end of guidance of $3.28-$3.34), though slightly increasing our 2019 estimate to $3.46 from $3.43 (below consensus of $3.52). Our 2018 estimate is coming down to reflect the consumer segment weakness, while our 2019 estimate is going up to reflect a benefit from the recent Conitex acquisition. Our revised estimates imply flat adj. EBIT in 2019, which we consider appropriate given how historically high its industrial segment margins already are and given the recent struggles of its consumer segment.””
A number of other equities analysts have also issued reports on SON. Zacks Investment Research upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating in a research report on Thursday. Barclays increased their target price on shares of Sonoco Products from $55.00 to $58.00 and gave the company a “$56.02” rating in a research report on Monday, July 23rd. Finally, DA Davidson increased their target price on shares of Sonoco Products to $57.00 and gave the company a “neutral” rating in a research report on Friday, July 20th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $59.00.
Shares of SON stock traded up $2.30 during trading hours on Thursday, reaching $55.05. The stock had a trading volume of 1,429,600 shares, compared to its average volume of 494,723. The company has a quick ratio of 1.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.71. Sonoco Products has a twelve month low of $46.55 and a twelve month high of $58.69. The stock has a market cap of $5.53 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 3.56 and a beta of 1.07.
Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, October 18th. The industrial products company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.06. Sonoco Products had a net margin of 4.57% and a return on equity of 18.01%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the company earned $0.76 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts forecast that Sonoco Products will post 3.34 EPS for the current fiscal year.
In other news, VP Allan H. Mcleland sold 7,705 shares of the firm’s stock in a transaction dated Friday, July 20th. The shares were sold at an average price of $56.77, for a total transaction of $437,412.85. Following the completion of the transaction, the vice president now owns 46,575 shares in the company, valued at approximately $2,644,062.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Kevin P. Mahoney sold 1,138 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $56.11, for a total transaction of $63,853.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,612 shares of company stock valued at $1,047,835. Insiders own 1.70% of the company’s stock.
Large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Sonoco Products by 1.7% in the second quarter. BlackRock Inc. now owns 10,848,632 shares of the industrial products company’s stock worth $569,553,000 after buying an additional 179,510 shares during the period. Bank of America Corp DE boosted its holdings in shares of Sonoco Products by 5.3% in the second quarter. Bank of America Corp DE now owns 2,180,081 shares of the industrial products company’s stock worth $114,454,000 after buying an additional 110,017 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Sonoco Products by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,436,571 shares of the industrial products company’s stock worth $75,415,000 after buying an additional 70,837 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Sonoco Products by 163.3% in the second quarter. Victory Capital Management Inc. now owns 792,285 shares of the industrial products company’s stock worth $41,595,000 after buying an additional 491,419 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Sonoco Products by 0.8% in the second quarter. Northern Trust Corp now owns 772,213 shares of the industrial products company’s stock worth $40,541,000 after buying an additional 6,062 shares during the period. Institutional investors own 70.51% 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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