Sonoco Products (NYSE:SON) Price Target Raised to $60.00 at Robert W. Baird

Sonoco Products (NYSE:SON) had its price objective increased by research analysts at Robert W. Baird from $48.00 to $60.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective suggests a potential upside of 5.82% from the stock’s previous close.

A number of other research analysts also recently issued reports on SON. Raymond James Financial set a $60.00 target price on shares of Sonoco Products in a research report on Monday, January 5th. Wall Street Zen upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, January 21st. Bank of America upgraded Sonoco Products from a “neutral” rating to a “buy” rating and increased their price target for the stock from $56.00 to $60.00 in a report on Monday, January 5th. Finally, UBS Group boosted their price objective on Sonoco Products from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.50.

Sonoco Products Stock Up 9.7%

Sonoco Products stock opened at $56.70 on Wednesday. The firm has a 50 day moving average price of $47.01 and a two-hundred day moving average price of $44.56. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92. Sonoco Products has a 52-week low of $38.65 and a 52-week high of $57.83. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 0.80 and a beta of 0.54.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Monday, February 16th. The industrial products company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. Sonoco Products had a net margin of 8.82% and a return on equity of 20.49%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The business’s quarterly revenue was up 29.7% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Equities analysts predict that Sonoco Products will post 6.1 EPS for the current year.

Institutional Investors Weigh In On Sonoco Products

Several large investors have recently made changes to their positions in SON. SBI Securities Co. Ltd. grew its holdings 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 valued at $26,000 after purchasing an additional 258 shares during the period. Cornerstone Planning Group LLC bought a new position in Sonoco Products in the 3rd quarter worth about $29,000. LRI Investments LLC purchased a new stake in shares of Sonoco Products in the fourth quarter worth about $29,000. TD Waterhouse Canada Inc. purchased a new position in Sonoco Products during the second quarter valued at approximately $30,000. Finally, True Wealth Design LLC increased its holdings in shares of Sonoco Products by 172.5% in the third quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 471 shares during the period. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Company Profile

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.