Argus Upgrades Sonoco Products (SON) to Buy

Sonoco Products (NYSE:SON) was upgraded by investment analysts at Argus from a “hold” rating to a “buy” rating in a research report issued on Wednesday, The Fly reports.

A number of other research firms also recently commented on SON. Wells Fargo & Co reiterated a “hold” rating on shares of Sonoco Products in a research note on Thursday, February 14th. KeyCorp reiterated a “hold” rating on shares of Sonoco Products in a research note on Thursday, February 14th. Zacks Investment Research restated a “hold” rating and issued a $56.00 price target on shares of Sonoco Products in a research report on Monday, December 31st. Finally, Vertical Research downgraded shares of Sonoco Products from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $57.25.

NYSE SON opened at $61.29 on Wednesday. Sonoco Products has a 12 month low of $50.30 and a 12 month high of $62.96. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.36. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 3.66 and a beta of 1.01.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Thursday, April 18th. The industrial products company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.05. Sonoco Products had a net margin of 5.76% and a return on equity of 19.57%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the firm posted $0.74 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, research analysts expect that Sonoco Products will post 3.55 EPS for the current fiscal year.

In other news, SVP Rodger D. Fuller sold 5,085 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $60.25, for a total value of $306,371.25. Following the transaction, the senior vice president now directly owns 72,978 shares in the company, valued at approximately $4,396,924.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rodger D. Fuller sold 6,224 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $59.90, for a total transaction of $372,817.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,914 shares of company stock worth $1,551,838. Insiders own 1.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Hirtle Callaghan & Co LLC acquired a new stake in shares of Sonoco Products in the 4th quarter worth about $35,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Sonoco Products by 5,213.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,066,704 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 2,027,805 shares during the period. Tributary Capital Management LLC acquired a new stake in shares of Sonoco Products in the 4th quarter worth about $46,000. Flagship Harbor Advisors LLC increased its holdings in shares of Sonoco Products by 54.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 966 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 339 shares during the period. Finally, Rehmann Capital Advisory Group increased its holdings in shares of Sonoco Products by 40.5% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,137 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 328 shares during the period. Institutional investors own 74.49% of the company’s stock.

Sonoco Products Company Profile

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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