UBS started coverage on shares of Sonoco (NYSE:SON) in a research note issued to investors on Friday morning, www.benzinga.com reports. The brokerage issued a buy rating and a $55.00 price target on the industrial products company’s stock.
SON has been the topic of several other reports. TheStreet cut shares of Sonoco from a b rating to a c+ rating in a report on Friday, February 16th. Barclays upgraded shares of Sonoco from an underweight rating to an equal weight rating and boosted their price target for the company from $49.00 to $55.00 in a report on Friday, December 15th. Zacks Investment Research cut shares of Sonoco from a buy rating to a hold rating in a report on Wednesday, February 14th. Bank of America cut shares of Sonoco from a buy rating to a neutral rating and set a $59.00 price target on the stock. in a report on Monday, April 2nd. Finally, Vertical Research upgraded shares of Sonoco from a hold rating to a buy rating in a report on Friday, March 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $53.88.
Shares of NYSE:SON opened at $50.20 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.09 and a current ratio of 1.56. Sonoco has a 12-month low of $46.55 and a 12-month high of $55.77. The firm has a market cap of $4,906.72, a price-to-earnings ratio of 17.99, a PEG ratio of 3.30 and a beta of 1.12.
A number of large investors have recently modified their holdings of SON. Legal & General Group Plc boosted its holdings in Sonoco by 8.5% in the third quarter. Legal & General Group Plc now owns 134,510 shares of the industrial products company’s stock worth $6,785,000 after purchasing an additional 10,524 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sonoco by 2.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,279,308 shares of the industrial products company’s stock worth $64,540,000 after purchasing an additional 36,612 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Sonoco by 743.7% in the third quarter. Allianz Asset Management GmbH now owns 235,196 shares of the industrial products company’s stock worth $11,865,000 after purchasing an additional 207,320 shares in the last quarter. Vident Investment Advisory LLC boosted its holdings in Sonoco by 19.1% in the third quarter. Vident Investment Advisory LLC now owns 9,444 shares of the industrial products company’s stock worth $476,000 after purchasing an additional 1,516 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Sonoco in the third quarter worth $296,000. Hedge funds and other institutional investors own 70.78% of the company’s stock.
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Sonoco 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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